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 $480,000, 36%, and $9,600, respectively. the north division’s contribution margin and contribution margin ratio are $92,000 and 40%, respectively. the south division’s segment margin is $32,500. the company has $62,400 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. 0.1234 should be entered as 12.3