Shannon Company segments its income statement into North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $$650,000,40\%,$ and $$13,000,$ respectively. The North Division's contribution margin and contribution margin ratio are $$110,000$ and $44\%,$ respectively. The South Division's segment margin is $$60,000.$ The company has $$97,500$ 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.