3 5 points eBook Departmental Income Statements For Year Ended December 31 Sales Cost of goods sold Gross profit Expenses Advertising Depreciation-Equipment Salaries Supplies used Rent Utilities Total expenses + Hint Print Income (loss) Acoustic $ 101,600 44,575 Electric $ 84,000 47,650 57,025 36,350 5,005 4,330 10,130 8,590 19,500 17,200 2,000 1,730 7,055 5,960 2,975 2,570 46,665 40,380 $ 10,360 $ (4,030) 1. Prepare a departmental contribution to overhead report. 2. Based on contribution to overhead, should the electric guitar department be eliminated? Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Prepare a departmental contribution to overhead report. Departmental Contribution to Overhead For Year Ended December 31 Acoustic Electric Combined Direct expenses Total direct expenses