1 Polarix is a retailer of ATVs (all-terrain vehicles) and accessories. An income statement for its Consumer ATV Department for the current year follows. ATVS sell for $4,200 each. Variable selling expenses are $280 per ATV. The remaining selling expenses are fixed. Administrative expenses are 70% variable and 30% fixed. The company does not manufacture its own ATVs; it purchases them from a supplier for $1,860 each. 10 points eBook References Income Statement-Consumer ATV Department For Year Ended December 31, 2017 Sales Cost of goods sold Gross margin Operating expenses Selling expenses POLARIX Administrative expenses Net income Sales Less: Cost of goods sold $150,000 41,800 $609,000 269,700 339,300 Required: 1. Prepare an income statement for this current year using the contribution margin format. (Round contribution margin per ATV to the nearest dollar amount.) Variable selling expenses Variable administrative expenses 191,800 $147,500 POLARIX Income Statement - Consumer ATV Department For Year Ended December 31, 2017 0

Polaris is a retaler of ATVs (alliterrain vehicies) and accessorses. An income statement for its Consumer ATV Department for the current year follows. ATVs sell for $4,200 each. Variable selling expenses are $280 per ATV. The remaining selling expenses are ff ced. Administrative expenses are 70% variable and 30% foed. The compary does not manufacture its own. ATVs, it purchoses them from a supplier for $1.860 each Required: Required: 1. Prepare an income statement for this currekt year using the contribution margin format (Pound contribution murgin per ATV to the nearest dellar amount.) Required: 1. Prepore an income statement for this current year using the contribution margin format. (Round contribution margin per ATV to the nearest dollar amount) Polarix is a retailer of ATVs (all-terrain vehicles) and accessories. An income statement for its Consumer ATV Department for the curtent year follows. ATVs sell for $4,200 each. Variable selling expenses are $280 per ATV, The remaining selling expenses are foxed Administrative expenses are 70% variabie and 30% fixed. The company does not manufacture its own ATVy; it purchases them from a supplier for $1,860 each. Required: 1. Prepare an income stafement for this curcelt year using the contribution margin format (Round contribution margin per ATV to the nearest dellar amount)