24-7 Below are departmental income statements for a guitar 2 manufacturer. The manufacturer is considering eliminating its electric 4 6 guitar department since it has a net loss. The company classifies advertising, rent, and utilitics expenses as indirect. Wholesale Guitars Departmental Income Statements For Year Ended December 31, 2017 9 Sales 10 CGS 11 Gross Profit Acoustic Electric $112,500$105,500 $55,675 $66,750 $56,825 $38,750 12 Operaing Expense 13 Adrising expense 14 Depreciation expense- equipment 15 Salaries expense 16 Supplies expense 17 Rent expense 18 Utilitics Expense 19 Total operating expense 20 Net Income (loss 21 S8.075 6.250 $10,150$9,000 $17,300$13,500 $2,030 $1,700 6,105$5,950 $3,045 $2,550 $46,705 $38,950 1. Prepare a departmental contribution report that shows cach 22| department's contribution to overhead. Green Highlights require your 23 24 25 26 27 Acoustic ElectricTotal 28 Direct expenses 29 31 32 34 35 Total direct expenses 36 Departmental contributions $0 SO $0 S0 $0 SO 37 Indirect expenses 38 39 40 41 42 43 44 Total Indirect expenses 45 Opcrating Income (Loss) 46 Based on contribution to overhead, should the electric guitar department 47 SO $0 be climinated?- use the drop down column B Row 48 Yes/No 49 50 51 52 53 Explain your