Chapter 19 Homework 6 Help Save & Exit Submit Saved Check my work 4 Polarix is a retailer of ATVs (all-terrain vehicles) and accessories. An income statement for its Consumer ATV Department for the current year follows. ATVs sell for $4,200 each. Variable selling expenses are $280 per ATV. The remaining selling expenses are fixed Administrative expenses are 70% variable and 30% fixed. The company does not manufacture its own ATVs: it purchases them from a supplier for $1,810 each. 10 polnts POLARIX Income Statement-Consumer ATV Department For Year Ended December 31, 2817 e Book Sales Cost of goods sold Gross margin Operating expenses $609,800 262,450 346,550 Hint Print Selling expenses Administrative expenses $150,808 42,300 192,308 $154,2560 References Net income Required 1. Prepare an income statement for this current year using the contribution margin format. (Round contribution margin per ATV to the nearest dollar amount.) POLARIX Income Statement - Consumer ATV Department Mc Graw Hill Prev 4 of 5 Next>