Case 10.1: Metropolitan Hospital Laboratory Key concept: Preparing a contribution margin statement and making shortrun and long-run decisions about closing he Metropolitan Hospital Laboratory conducts a wide variety of tests, but the 2015 departmental income statement, included below, shows a large amount of red ink. Financial analysts have recommended that the department be closed because of the red ink. Assignment and Questions 1. Construct a contribution margin income statement. 2. Should the department be closed if we only consider a short-run financial perspective? 3. Should the department be closed if we assume no significant changes at the hospital and a long-run financial perspective