Shannon Company segments its income statement into North and South Divisions. The companys overall sales, contribution margin ratio, and net operating income are $490,000, 38%, and $9,800, respectively. The North Divisions contribution margin and contribution margin ratio are $100,800 and 42%, respectively. The South Divisions segment margin is $35,000. The company has $68,600 of common fixed expenses that cannot be traced to either division.

Required:

Prepare a segmented income statement for Shannon Company using the contribution format. For the company as a whole and for each division, show each item on the segmented income statements as a percent of sales.

Note: Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3).

CHEGG USER, PLEASE ANSWER BY DRAWING ON THE ACTUAL CHART. I DO NOT UNDERSTAND WHERE EVERYTHING NEEDS TO GO BY EXPLAINING IN LONG SENTENCES. JUST DRAW ON THE CHART PLEASE. :) THX.

Shannon Company segments its income statement into North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $490,000,38%, and $9,800, respectively. The North Division's contribution margin and contribution margin ratio are $100,800 and 42%, respectively. The South Division's segment margin is $35,000. The company has $68,600 of common fixed expenses that cannot be traced to either division. Required: Prepare a segmented income statement for Shannon Company using the contribution format. For the company as a whole and for each division, show each item on the segmented income statements as a percent of sales. Note: Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3)