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 $780,000, 50%, and $62,400, respectively. the north division’s contribution margin and contribution margin ratio are $247,500 and 75%, respectively. the south division’s segment margin is $68,000. the company has $117,000 of common fixed expenses that cannot be traced to either division.***need full explanation step by step *** you! ***required: prepare an income statement for shannon company that uses the contribution format and is segmented by divisions. (round your percentage answers to 1 decimal place (i. e .1234 should be entered as 12.3))division total compay north south sales amount % amount % amount %variable expenses contribution margin traceable fixed expenses territorial segment margin common fixed expenses net operating income