Saved Help Save & Exit Sut 106 Exercises & Problems Check my won Exercise 6-7 (Algo) 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 $1,110,000, 44%, and $22,200, respectively. The North Division's contribution margin and contribution margin ratio are $177,600 and 48%, respectively. The South Division's segment margin is $199,800. The company has $299,700 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 (ie 1234 should be entered as 12.3).) Divisions North Total Company Amount % South Amount Amount % %