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Prepare an income statement for shannon company

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Reference no: EM131705498

Question - 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 $600,000, 50%, and $50,000, respectively. The Norm Division's contribution margin and contribution margin ratio are $150,600 and 75%, respectively. The South Division: segment margin is $70,000. The company has $60,000 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.

Reference no: EM131705498

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