Check my work 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 $1,020,000, 38%, and $20,400, respectively. The North Division's contribution margin and contribution margin ratio are $142,800 and 42%, respectively. The South Division's segment margin is $163,200. The company has $244,800 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. I addition, for the company as a whole and for each segment, show each item on the segmented income statements as percent of sales. (Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3).) Sales Variable expenses Contribution margin Traceable fixed expenses Territorial segment margin Common fixed expenses Net operating income Total Company Amount $1,020,000 $ 632,400 387,600 122,400 265,200 244,800 20,400 % North Amount 100.0 $ 340,000 62.0 197,200 38.0 142,800 % Divisions 42.0 Amount South %
