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Shannon Company segments its income statement into North and South Divisions. The companys overall sales,...

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Accounting

Shannon Company segments its income statement into North and South Divisions. The companys overall sales, contribution margin ratio, and net operating income are $1,170,000, 48%, and $23,400, respectively. The North Divisions contribution margin and contribution margin ratio are $202,800 and 52%, respectively. The South Divisions segment margin is $226,200. The company has $339,300 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).

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