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

Shannon Company segments Its Income statement Into North and South Divisions. The company's overall sales, contribution margin

ratlo, and net operating Income are $$500,000,46\%,$ and $$10,000,$ respectively. The North Division's contribution margin and

contribution margin ratio are $$150,000$ and $50\%,$ respectlvely. The South DIvision's segment margin Is $$30,000.$ The company has

$$90,000$ of common fixed expenses that cannot be traced to elther division.

Required:

Prepare a segmented Income statement for Shannon Company using the contribution format. For the company as a whole and for

each division, 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 $12\mathrm{.}3)$