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 exist3, 400 each. Variable selling expenses are exist270 per ATV. The remaining selling expenses are fixed. Administrative expenses are 30% variable and 70% fixed. The company does not manufacture its own ATVs: it purchases them from a supplier for exist1, 860 each. Required: 1. Prepare an income statement for this current year using the contribution margin format