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 $350,000, 32%, and $7,000, respectively. The North Division's contribution margin and contribution margin ratio are $75,600 and 36%, respectively. The South Division's segment margin is $15,400. The company has $38,500 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).) Sales Variable expenses Contribution margin Traceable fixed expenses Territorial segment margin Common fixed expenses Net operating income Total Company North Division South Division Amount % Amount % Amount % $ 810,000 100.0 $ 310,000 100.0 $ 500,000 100.0 550,800 68.0 198,400 64.0 352,400 70.5 259,200 32.0 111,600 36.0 147,600 8.5 79,900 9.0 30,300 98.0 42,600 8.5 186,300 23.0 81,300 26.2 105,000 21.0 170,100 21.0 $ 16,200 2.0