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 5103,200 $83,500 Cost of goods sold 43,875 47,758 Gross profit 59,225 35,750 Operating expenses Advertising expense 5,005 4,280 Depreciation expense-Equipment 10,150 6,528 Salaries expense 19,500 17,200 Supplies expense 2,030 1,710 Rent expense 7,075 5,960 utilities expense 2,905 2,590 Total operating expenses 46,745 40,260 Net incon (loss) $ 12,480 $4,5101 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? Prepare a departmental contribution report that shows each department's contribution to overhead. WHOLEBALE GUITARB Income Statement Showing Departmental Contribution to Overheid For Your Ended December 31, 2019 Acoustic Dept. Electric Depi Combined Direct expenses 0 0 Total direct expenses Departmental contributions to overhead Indirect expenses $ 0 $ 0 $ Total Indirect expenses 0 0 Required 1 Required 2 Based on contribution to overhead, should the electric guitar department be eliminated? Based on contributli to overhead, should the electric guitar department be eliminated