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 583,100 47, 450 35,650 WHOLESALE GUITARS Departmental Income Statements Tor Year Ended December 31, 2019 Acoustic Sales $101,700 Cost of goods sold 43.775 Gross profit 57,925 Operating expenses Advertising expense 5,025 Depreciation expense-Iquipment 10.140 Salaries expense 19,000 Supplies expense 1.990 Rent expense 7.055 Utilities expense 3.015 Total operating expenses 42,025 Net Income (los) $ 10,900 4,310 8.590 17,600 1.770 6,010 2.610 40,890 $15,240) 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 Departmental contributions to overhead Indirect expenses Total Indirect expenses 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?