Chapter 6 question 5In the blue chart there is one more section 2. For each ATV sold during this year, what is the contribution toward covering fixed expenses and earning income?

Check my work 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 $4,000 each. Variable selling expenses are $230 per ATV. The remaining selling expenses are fixed. Administrative expenses are 50% variable and 50% fixed. The company does not manufacture its own ATVs; it purchases them from a supplier for $1,850 each. its POLARIX Income Statement-Consumer ATV Department eBook For Year Ended December 31 Sales $612, 000 Hint Cost of goods sold 283, 050 Gross margin 328, 950 Print Operating expenses Selling expenses $140, 000 Administrative expenses 42,500 182, 500 Net income $146, 450 Required: 1. Prepare an income statement for the current year using the contribution margin format. (Do not round intermediate calculations. Round contribution margin per ATV value to the nearest whole number.) POLARIX Mc Graw Hill