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, 609 $84, 508 Cost of goods sold 44,275 47,650 Gross profit 57,325 36, 850 Operating expenses Advertising expense 5,975 4,348 Depreciation expense-Equipment 19,118 8,516 Salaries expense 19,898 17,908 Supplies expense 1,948 1, 758 Rent expense 7,065 6,048 Utilities expense 2,945 2,560 Total operating expenses 46,935 41, 198 Net income (loss) 10,398 $ (4,250) 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? ...... :.......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