Exercise 22-8 (Algo) Departmental income statement and contribution to overhead LO P3 The Ski department reports sales of $620,000 and cost of goods sold of $434,000. Its expenses follow. Direct expenses Salaries Depreciation $ 116,000 Rent 44,800 Indirect expenses Service department expenses $ 15,000 office $ 29,000 1. For the Ski department only, prepare a departmental income statement. 2. & 3. For the Ski department only, prepare a departmental contribution to overhead report. Based on these two reports, should the Ski department be eliminated? Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 For the Ski department only, prepare a departmental income statement. Departmental Income Statement For Year Ended December 31 Ski Department Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 For the Ski department only, prepare a departmental income statement. Departmental Income Statement For Year Ended December 31, Expenses Ski Department Total expenses $ 0 Req 2 and 3> es Req 1 Req 2 and 31 For the Ski department only, prepare a departmental contribution to overhead report. Based on these two reports, should the Ski department be eliminated? Departmental Contribution to Overhead For Year Ended December 31 Total direct expenses Departmental contribution to overhead Should the Ski department be eliminated? Ski Department 0 0 $ < Req 1 Req 2 and 3