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 $4,400 each. Variable selling expenses are $210 per ATV. The remaining selling expenses are fixed. Administrative expenses are 20% variable and 80% fixed. The company does not manufacture its own ATVs; it purchases them from a supplier for $1,880 each. Sales POLARIX Income Statement-Consumer ATV Department For Year Ended December 31 Cost of goods sold Gross margin Operating expenses $611,600 261,320 350,280 Selling expenses Administrative expenses Net income $180,000 42,500 222,500 $127,780 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.)