Exercise 7-4 (Algo) Basic Segmented Income Statement [LO7-4] Royal Lawncare Company produces and sells two packaged productsWeedban and Greengrow. Revenue and cost information relating to the products follow: Product Weedban Greengrow Selling price per unit $ 10.00 $ 35.00 Variable expenses per unit 3 2.60 $ 13.00 Traceable fixed expenses per year $ 136,000 $ 42,000 Last year the company produced and sold 42,500 units of Weedban and 19,000 units of Greengrow. Its annual common fixed expenses are $100,000. Required: Prepare a contribution format income statement segmented by product lines. Exercise 7-7 (Algo) Segmented Income Statement [L07-4] 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 $600,000, 30%, and $12,000, respectively. The North Division's contribution margin and contribution margin ratio are $68,000 and 34%, respectively The South Division's segment margin is $40,000. The company has $60,000 of common xed 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 (Le .1234 should be entered as 12.3).)