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 $290 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 $1.840 each. POLARIX Income Statement-Consumer ATV Department For Year Ended December 31 Sales $661,200 Coat of goods sold 320,160 Gross margin 341,040 Operating expenses Selling expenses $145,000 Administrative expenses 42,000 187,000 Net income $154,040 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 RUUNU cumulon margin pur HIV value we nearest Wie numer POLARIX Income Statement - Consumer ATV Department For Year Endod December 31 15 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