Polarix is a retailer of ATVs (all-terrain vehicles) and accessories. An income statement for its Consumer ATV Department current year follows. ATVs sell for $4,200 each. Variable selling expenses are $310 per ATV. The remaining selling expen Administrative expenses are 50% variable and 50% fixed. The company does not manufacture its own ATVs; it purchases supplier for $1,840 each. POLARIX Income Statement-Consumer ATV Department For Year Ended December 31 Sales $625,800 Cost of goods sold 274,160 Gross margin 351,640 Operating expenses Selling expenses $ 140,000 Administrative expenses 42,100 182,100 Net income $169,540 Required: 1. Prepare an income statement for the current year using the contribution margin format. (Do not round intermediate ca Round contribution margin per ATV value to the nearest whole number.) POLARIX Income Statement - Consumer ATV Department For Year Ended December 31 0 1. Prepare an income statement for the current year using the contribution margin format. (Do not round intermediate calcu Round contribution margin per ATV value to the nearest whole number.) POLARIX Income Statement - Consumer ATV Department For Year Ended December 31 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: