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 $240 per ATV. The remaining selling expenses are fixed. Administrative expenses are 80% variable and 20% fixed. The company does not manufacture its own ATVs; it purchases them from a supplier for $1,840 each. POLARIX Income Statement-Consumer ATV Department For Year Ended December 31 Sales $656,200 Cost of goods sold 355, 120 Gross margin 301,080 Operating expenses Selling expenses $150,000 Administrative expenses 41,700 191,700 Net income $109,380 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 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