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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 $810,000,32%, and $16,200, respectively. The North Divisions contribution margin and contribution margin ratio are $111,600 and 36%, respectively. The South Divisions segment margin is $105,000. The company has $170,100 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.

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