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 $3,800 each. Variable selling expenses are $320 per ATV. The remaining selling expenses are fixed. Administrative expenses are 70% variable and 30% fixed. The company does not manufacture its own ATVs; it purchases them from a supplier for $1,870 each.

POLARIX Income StatementConsumer ATV Department For Year Ended December 31
Sales				$	676,400
Cost of goods sold					332,860
Gross margin					343,540
Operating expenses
Selling expenses	$	165,000
Administrative expenses		40,700			205,700
Net income				$	137,840

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 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