Check m 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 $84,500 47,150 37,350 WHOLESALE GUITARS Departmental Income Statenents For Year Ended December 31, 2019 Acoustic Sales $102,200 Cost of goods sold 44,773 Gross profit 57,425 Operating expenses Advertising expense 4,995 Depreciation expense-Equipment 10,860 Salaries expense 19,500 Supplies expense 2,830 Rent expense 7,085 Utilities expense 2,975 Total operating expenses 46,645 Net income (loss) $19,789 4,350 8,530 17,100 1,770 5,970 2,580 40,300 $(2,950) 1. Prepare a departmental contribution report that shows each department'shontribution 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