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 $3,400 each. Variable selling expenses are $250 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 $1,870 each. POLARIX Income Statement-Consumer ATV Department For Year Ended December 31 Sales $649,400 Cost of goods sold 357,170 Gross margin 292,230 Operating expenses Selling expenses $175,000 Administrative expenses 41,500 216,500 Net income $ 75,730 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 Income Statement - Consumer ATV Department For Year Ended December 31 Sales Less: Variable expenses Fixed cost of goods sold 0 0 Net income (loss) 2. For each ATV sold during this year, what is the contribution toward covering fixed expenses and earning income? Contribution margin per ATV