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 $ and $ respectively. The North Division's contribution margin and contribution margin ratio are $ and respectively. The South Division's segment margin is $ The company has $ 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 decimal place ie should be entered as
Answer Is not complete.
tableDivisionsTotal Company,North,SouthAmountAmount,Amount,Sales $$ Variable expenses,Contribution margin,v$Common fixed expenses,Net operating income,
