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 $210 per ATV. The remaining selling expenses are foed. Administrative expenses are 10% variable and 90% fixed. The company does not manufacture its own ATVs. It purchases them from a Supplier for $1890 each POLARIX Income Statement-Consumer ATV Department for Year Ended December 31 5669,800 cost of goods sold 372,330 Gross margin 297,479 Operating expenses Selling expenses $165,000 Administrative expenses 206.600 Net Income $ 90, 870 Required: 1. Prepare an income statement for the current year using the contribution margin format. (Do not found intermediate calculations Round contribution margin per ATV value to the nearest whole number.) POLARIX Income Statement - Consumer ATV Deportmont For Year Ended December 31 Saved Required: 1. Prepare an income statement for the current year using the contribution margin format. (Do not round intermedia Round contribution margin per ATV value to the nearest whole number.) POLARIX Income Statement - Consumer ATV Department For Year Ended December 31 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