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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 operating income are $760,000,

Shannon Company segments its income statement into its North and South Divisions. The companys overall sales, contribution margin ratio, and net operating income are $760,000, 60%, and $45,600, respectively. The North Divisions contribution margin and contribution margin ratio are $240,000 and 75%, respectively. The South Divisions segment margin is $66,000. The company has $91,200 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. (Do not round your intermediate percentage answers and round your final percentage answers to 1 decimal place (i.e. .1234 should be entered as 12.3).)

Divisions

Total Company

North

South

Amount

%

Amount

%

Amount

%

Sales

$

760,000

$

320,000

$

440,000

Variable expenses

304,000

80,000

224,000

Contribution margin

456,000

0.0

240,000

0.0

216,000

0.0

Traceable fixed expenses

319,200

169,200

150,000

Territorial segment margin

136,800

0.0

$

70,800

0.0

$

66,000

0.0

Common fixed expenses

91,200

Net operating income

$

45,600

0.0

sheet is drawn here

I need help finding the percentages!!!!

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