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 classies advertising, rent, and utilities expenses as indirect. h'i-DLESALE GJITARS Departmental Income Statements For Year Ended December 31, 2919 Acoustic Electric Sales $132,539 $34,339 Cost of goods sold 44,??5 45,359 Gross profit 5?,325 3?,459 Operating expenses Advertising expense 4,995 4,323 Depreciation expenseEquipment 18,139 3,5?9 Salaries expense 19,336 13,136 Supplies expense 1,9?9 1,388 Rent expense ?,825 6,813 Utilities expense 2,965 2,559 Total operating expenses 46,385 48,336 Net income (loss) $ 11,848 ${Z,BBB) 1. Prepare a departmental contribution repon that shows each department's contribution to overhead. 2. Based on contribution to overhead, should the electric guitar department be eliminated? Conlllete lis queslion by entering your answers 'll tile labs lab\". Required 1 Required 2 Prepare a departmental oontJ'ilJutJ'on report that shows each department's oontJ'ilJutJ'on tJo overhead. Departmental contributions to overhead Indirect expenses Required 2 )