Exercise $4-7($Algo$)$ Segmented Income Statement $[$LO$4-4]$

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 $$1,170,000,48\%,$ and $$23,400,$ respectively. The North Division's contribution margin and contribution margin ratio are $$202,800$ and $52\%,$ respectively. The South Division's segment margin is $$226,200.$ The company has $$339,300$ 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. In addition, for the company as a whole and for each segment, show each item on the segmented income statements as a percent of sales.

Note: Round your percentage answers to $1$ decimal place $($i$.$e $1234$ should be entered as $12\mathrm{.}3).$

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