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Shannon Company segments its income statement into its North and South Divisions. The company's overall

sales, contribution margin ratio, and net operating income are $$1,140,000,46\%,$ and $$22,800,$ respectively. The

North Division's contribution margin and contribution margin ratio are $$190,000$ and $50\%,$ respectively. The South

Division's segment margin is $$212,800.$ The company has $$319,200$ of common fixed expenses that cannot be

traced to either division.

Required:

Prepare an income statement for Shannon Company that uses the contribution format and is segmented by

divisions. In addition, for the company as a whole and for each segment, show each item on the segmented

income statements as a percent of sales. $($Round your percentage answers to $1$ decimal place $($i$.$e $.1234$ should

be entered as $12\mathrm{.}3).)$

Shannon Company segments its income statement into its North and South Divisions. The company's overall

sales, contribution margin ratio, and net operating income are $$1,140,000,46\%,$ and $$22,800,$ respectively. The

North Division's contribution margin and contribution margin ratio are $$190,000$ and $50\%,$ respectively. The South

Division's segment margin is $$212,800.$ The company has $$319,200$ of common fixed expenses that cannot be

traced to either division.

Required: $$

Prepare an income statement for Shannon Company that uses the contribution format and is segmented by

divisions. In addition, for the company as a whole and for each segment, show each item on the segmented

income statements as a percent of sales. $($Round your percentage answers to $1$ decimal place $($i$.$e $\mathrm{.}1234$ should

be entered as $12\mathrm{.}3).)$

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