Shannon Company segments its income statement into North and South Divisions. The companys overall sales, contribution margin ratio, and net operating income are $1,050,000, 40%, and $21,000, respectively. The North Divisions contribution margin and contribution margin ratio are $154,000 and 44%, respectively. The South Divisions segment margin is $175,000. The company has $262,500 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