Prepare an income statement

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 $760,000, 60%, and $45, 600, respectively. The North Division’s contribution margin and contribution margin ratio are $240,000 and 75%, respectively. The South Division’s segment margin is $66,000. The company has $91, 200 of common fixed expenses that cannot be traced to either division. Prepare an income statement for Shannon Company that uses the contribution format and is segmented