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 $720,000, 60%, and $72,000, respectively. The North Division's contribution margin and contribution margin ratio are $225,000 and 75%, respectively. The South Division's segment margin is $62,000. The company has $108,000 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