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 $310 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 $1,920 each. bok int POLARIX Income Statement-Consumer ATV Department For Year Ended December 31 Sales $ 664,000 Cost of goods sold 318,720 Gross margin 345,280 Operating expenses Selling expenses $150,000 Administrative expenses 42.109 192,100 Net Income $153,180 am 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.) 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 W Sales Less: Variable expenses Variable administrative expenses Variable cost of goods sold Variable selling expenses O Contribution margin Less Fixed expenses Fixed administrative expenses Fixed selling expenses Net Income (los) 2. For each ATV sold during this year, what is the contribution toward covering fixed expenses and earning income? Contribution maron per ATVE