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. Note: Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3). Sales Variable expenses Contribution margin Traceable fixed expenses Territorial segment margin Common fixed expenses Net operating income Total Company Amount $ 97,500 13,000 % 100.0 15.0 2.0 Amount North % Divisions 100.0 Amount South % 100.0

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