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6 Polarix is a retailer of ATVs (all-terrain...

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Accounting

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6 Polarix is a retailer of ATVs (all-terrain vehicles) and accessories. An Income statement for its Consumer ATV Department for the current year foliows, ATVs sell for $4,200 each. Variable selling expenses are $240 per ATV. The remaining seling expenses are fixed. Administrative expenses are 50% variable and 50% fixed. The company does not manufacture its own ATVs; it purchases them from a supplier for $1,820 each 3.7 pints 8013332 TOLARIX Theone Statement-conser ATV Department Yor Year Ended December 31 Sales $672,000 Coat of goods sold 291,200 Gross margin 380,000 Operating expenses Selling expenses $125,000 Administrative expen 41,300 166,300 Net income $214,500 eBook Hint 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.) Print References POLARIX Income Statement Consumer ATV Department For Year Ended December 31 Me Graw

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