28 Shannon Company segments its income statement in its North and South Division. The company's overall...

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28 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 $480,000, 60%, and $48,000, respectively. The North Division's contribution margin and contribution margin ratio are $135,000 and 75%, respectively. The South Division's segment margin is $38,000. The company has $72,000 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. (Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3)) Divisions Total Company North South Amount % Amount % Amount % 4 28 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 $480,000, 60%, and $48,000, respectively. The North Division's contribution margin and contribution margin ratio are $135,000 and 75%, respectively. The South Division's segment margin is $38,000. The company has $72,000 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. (Round your percentage answers to 1 decimal place (i.e .1234 should be entered as 12.3)) Divisions Total Company North South Amount % Amount % Amount % 4