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Shannon company segments its income statement into its north and south divisions. the companys overall sales, contribution margin ratio, and net income are 1,020,000, 38%,

Shannon company segments its income statement into its north and south divisions. the companys overall sales, contribution margin ratio, and net income are 1,020,000, 38%, and $20,400, respectively. the norths division contribution margin and contribution margin ratio are $142,000 and 42% respectively. the souths divisions segment margin in $163,200. the company has $244,800 of common fixed expenses that cannot be traced to either division
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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 $1,020,000,38% , and $20,400, respectively. The North Division's contribution margin and contribution margin ratio are $142,800 and 42 %, respectively. The South Division's segment margin is $163,200. The company has $244,800 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. (Round your percentage answers to 1 decimal place (i.e 1234 should be entered as 12.3).-)

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