Problem 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 $270 per ATV. The remaining selling expenses are fixed. Administrative expenses arc 40% variable and 60% fixed. The company does not manufacture its own ATVs; it purchases them from a supplier for $1,830 each. POLAROK lecome Statement-Consuner ATV Depatment For Year Ended Decenber 31. 2017 Sales. .c Cost of goods sotdm Gross margin Operating expenses $646.00 311.100 334,900 Setling expenses- Administrative exponses $135 000 194 500 59,500 Net income--*-. 1. Prepare an income statement for this current year using the contribution margin format. 2. For each ATV sold during this year, what is the contribution toward covering fixed expenses and earning income