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 $3.200 each. Variable selling expenses are $280 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 $1.860 each POLARIX Income Statement-Consumer ATV Department For Year Ended December 31, 2017 Sales $611,280 Cost of goods sold 355,260 Gross margin 255,940 Operating expenses Selling expenses $135,880 Administrative expenses 175, 280 Net income $ 88,740 20.20 Required: 1. Prepare an income statement for this current year using the contribution margin format. (Round contribution margin per ATV to the nearest dollar amount.) POLARIX Income Statement - Consumer ATV Department For Year Ended December 31, 2017 Sales s 611.200 Less: Variable expenses Variable cost of goods sold Variable selling expenses S 355.260 Variable administrative expenses Total variable expenses Contribution margin Less: Foced expenses Foced selling expenses Fored administrative expenses 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: S 917