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 $ 101,800 $83,900 Cost of goods sold 45,375 46,750 Gross profit 56,425 37,150 Operating expenses Advertising expense 5,015 4,260 Depreciation expense-Equipment 10,060 8,570 Salaries expense 20,100 17,900 Supplies expense 1,940 1,750 Rent expense 7,085 5,980 Utilities expense 2,965 2,580 Total operating expenses 47,165 41,040 Net Income (loss) $ 9,260 $ (3,890) 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 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 0 0 0 Total direct expenses Departmental contributions to overhead Indirect expenses $ 0 $ 0 $ 0 Total indirect expenses 0 $ 0 Required Required 2 > 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?