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Exercise 19-8 Contribution margin format l Polartx is current year follows Administrative expenses are 40% variable and 60% fixed. The company does not manufacture its own A supplier for $1,830 each. a retailler of ATVs (all-terrain vehicles) and accessories. An income statement for its Consumer ATV Department for the remaining selling expenses are fixed TVs; it purchases them from a ATVs sell for $3,800 each. Variable selling exp POLARIX Income Statement-Consuner ATV Department Year Ended December 31, 2017 Sales Cost of goods sold Gross nargin Operating expenses $646,000 311,100 334,900 Selling expenses Administrative expenses $135,000 59,500194,500 $140,400 Net income Required: Required: 1. Prepare an income statement for this curent year using the contribution margin format. (Do not round Intermedlate calculations. Round contribution margin per ATV value to the nearest whole number.) Income Statement Consumer ATV Department For Year Ended r 31 Sales Fixed cost of goods sold Total selling expenses Fixed Fixed ve expenses Net income (loss) For each ATV sold during this year, what is the contribution toward g fixed expenses and earning income? Contribution margin per ATV