Shannon Company segments its income statement into North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $$480,000,36\%,$ and $$9,600,$ respectively. The North Division's contribution margin and contribution margin ratio are $$92,000$ and $40\%,$ respectively. The South Division's segment margin is $$32,500.$ The company has $$62,400$ 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 $12\mathrm{.}3).$

Answer is not complete.

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