Exercise $6-7($Algo$)$ Segmented Income Statement $[$LO$6-4]$

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 $$720,000,44\%,$ and $$14,400,$ respectively. The North Division's contribution margin and contribution margin ratio are $$129,600$ and $48\%,$ respectively. The South Division's segment margin is $$76,500.$ The company has $$122,400$ 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. $($Round your percentage answers to $1$ decimal place $($i$.$e $1234$ should be entered as $12\mathrm{.}3).)$

Answer is not complete.

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