Shannon company segments its income statement into its north and south divisions. The company's overall sales, contribution margin ratio, and net operating income are $500000, 46%, and $10000 respectively. The north division's contribution margin and contribution margin ratio are $ 150000 and 50%, respectively. The South division's segment margin is $30000. The company has $90000 of common fixed expenses that cannot be traced to either division.

Required: Prepare an income statement for Shannon company that uses the contribution format and is segmented by divisions. In addition, for the company as a whole and for each segment, show each item on the segmented income statements as a percent of sales. Fill the blue boxes with explanation please

Given:	North	% Sales	South	% Sales	Overall	% Sales
Sales					$ 5,00,000
TVC
CM	1,50,000	50%				46%
FCtraceable
Segment Margin			$ 30,000
Common FC					90,000
NOI					$ 10,000