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Business, 19.07.2019 19:10 ashley2816

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 $1,050,000, 40%, and $21,000, respectively. the north division’s contribution margin and contribution margin ratio are $154,000 and 44%, respectively. the south division’s segment margin is $175,000. the company has $262,500 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

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