Shannon Company segments its income statement into North and South Divisions.

The company's overall sales, contribution margin ratio, and net operating income are

$$500,000,46\%,$ and $$10,000,$ respectively. The North Division's contribution margin

and contribution margin ratio are $$150,000$ and $50\%,$ respectively. The South

Division's segment margin is $$30,000.$ The company has $$90,000$ 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.