shannon company segments its income statement into its North andSouth Divisions. The company's overall sales, contribution marginration, and net operating income are $1,020,000, 38%, and $20,400respectively. The North Division's contribution margin andcontribution margin ratio are $142,800 and 42% respectively. Thesouth Division's segment margin is $163,200. The company has$244,800 of common fixed expenses that cannot be traced to eitherdivisions. Prepare an income statement for Shannon Company thatuses the contribution format and is segmented by division. Inaddition, for the company as whole and for each segment show eachitem on the segmented income statements as percent of sales.
