WHOLESALE GUITARS Departmental Income Statements For Year Ended December 31, 2019 Sales Acoustic Electric $102, 900 $84, 200 Cost of goods sold 44, 775 47, 150 Gross profit 58, 125 37, 050 Operating expenses Advertising expense 4,995 4, 300 Depreciation expense-Equipment 10, 100 Salaries expense 8, 530 19, 808 17, 700 Supplies expense 1, 970 Rent expense 1, 770 7, 095 5, 990 Utilities expense 2,985 2, 600 Total operating expenses 46, 945 40 , 890 Net income ( loss ) $ 11, 180 $ (3, 840) 1. Prepare a departmental contribution report that shows each department's contribution to overhead. 2. Based on contribution to overhead, should the electric guitar department be eliminated? ices Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a departmental contribution report that shows each department's contribution to overhead. WHOLESALE GUITARS Income Statement Showing Departmental Contribution to Overhead For Year Ended December 31, 2019 Acoustic Dept. Electric Dept. Combined Direct expenses Total direct expenses Departmental contributions to overhead o Indirect expenses Total indirect expenses Required Required 2 >