Below are departmental income statements for a guitar manufacturer. The manufacturer is considering eliminating its electric guitar department since it has a net loss. The company classifies advertising, rent, and utilities expenses as indirect WHOLESALE GUITARS Departmental Income Statements For Year Ended December 31, 2019 Acoustic Electric Sales 5101,900 583,300 Cost of goods sold 45 175 47,050 Gross profit 56,725 36,250 Operating expenses Advertising expense 5,035 4,340 Depreciation expense-Equipaent 10,140 8,590 Salaries expense 19,400 17,600 Supplies expense 1,950 1,710 Rent expense 7,085 6,020 Utilities expense 2,985 2,630 Total operating expenses 46.595 40,890 Net Income (loss) 5 10,130 $(4,640) 1. Prepare a departmental contribution report that shows each department's contribution to overhead 2. Based on contribution to overhead, should the electric guitar department be eliminated Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a departmental contribution report that shows each department's contribution to overhead. WHOLESALE GUITARS Income Statement Showing Departmental Contribution to Overhead For Year Ended December 31, 2019 Acoustic Dept. Electric Dept. Combined Direct expenses Total direct expenses Departmental contributions to overhead Indirect expenses Total indirect expenses Required 2 > Acoustic $ 181,900 45,175 56,725 Electric $83,300 47,050 36,250 Sales Cost of goods sold Gross profit Operating expenses Advertising expense Depreciation expense-Equipment Salaries expense Supplies expense Rent expense Utilities expense Total operating expenses Net income (loss) 5,035 10,140 19,400 1,950 7,085 2,985 46,595 $ 10,130 4,340 8,590 17,600 1,710 6,020 2,630 40,890 $(4,640) 1. Prepare a departmental contribution report that shows each department's contribution to overhead. 2. Based on contribution to overhead, should the electric guitar department be eliminated? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on contribution to overhead, should the electric guitar department be eliminated? Based on contribution to overhead, should the electric guitar department be eliminated?