Return to question Exercise 6-7 Segmented Income Statement (LO6-4] 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 $490,000, 38%, and $9,800, respectively. The North Division's contribution margin and contribution margin ratio are $100,800 and 42%, respectively. The South Division's segment margin is $35,000. The company has $68,600 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 12.3).) X Answer is not complete. Divisions % 100.0 Total Company North Amount % Amount $ 490,000 100.0 $ 240,000 303,800 62.0 139,200 186,200 38.0 100,800 107,800 57,400 South % Amount 100.0 $ 250,000 58.0 164,600 42.0 85,400 50,400 35,000 Sales Variable expenses Contribution margin Traceable fixed expenses Territorial segment margin Common fixed expenses Net operating income 65.8 34.2 78,400 43,400 68,600 9,800 $