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 $4,000 each. Variable selling expenses are $320 per ATV The remaining selling expenses are fixed. Administrative expenses are 50% variable and 50% fixed. The company does not manufacture its own ATVs; it purchases them from a supplier for $1.830 each POLARTX Income Statement-Consumer ATV Department For Year Ended December 31 Sales $636,000 Cost of goods sold 290,970 Gross margin 345,030 Operating expenses Selling expenses $175, eee Administrative expenses 40,300 215,300 $129,730 Net income 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