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Shannon Company segments its income statement in its North and South Division. The company's overall sales, contribution margin ratio, and net operating income are $760,000, 60%, and $45,600, respectively. The North Division's contribution margin and contribution margin ratio are $240,000 and 75%, respectively. The South Division's segment margin is $66,000. The company has $91,200 of common fixed expenses that cannot be traced to either division.
Required:
Prepare the income statement for Shannon Company that uses the contribution format and is segmented by divisions. (Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3))
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