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. Electric $83,988 46,850 37,050 WHOLESALE GUITARS Departmental Income Statements For Year Ended December 31, 2019 Acoustic Sales $ 101,500 Cost of goods sold 44,675 Gross profit 56,825 Operating expenses Advertising expense 5, ees Depreciation expense-Equipment 10,120 Salaries expense 20, see Supplies expense 1,930 Rent expense 7,085 Utilities expense 2,965 Total operating expenses 47,105 Net income (loss) $ 9,720 4,330 8,590 17, 2ee 1,790 6,050 2,590 40,550 $(3,500) 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 Total direct expenses 0 Departmental contributions to overhead $ $ $ Indirect expenses Total indirect expenses 0 S Required Required 2 > 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?