Exercise 4-7 (Static) Segmented Income Statement [LO4-4] 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 $500 , 000 , 46% , and $10 , 000 , respectively. The North Division's contribution margin and contribution margin ratio are $150 , 000 and 50% , respectively. The South Division's segment margin is $30 , 000 . The company has $90 , 000 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).)