PLEASE CORRECT RED

The contribution format income statement for Huerra Company for last year is given below Unit $ 996,000 $49.80 597,600 29.88 Total Sales Variable expenses Contribution margin Fixed expenses 398,400 19.92 320,400 16.02 Net operating income Income taxes @ 40% 78,000 31,200 3.90 1.56 Net income $ 46,800 $ 2.34 The company had average operating assets of $492,000 during the year Required: 1. Compute the company's return on investment (ROI) for the period using the ROl formula stated in terms of margin and turnover. (Round your intermediate calculations and final answer to 2 decimal places.) Answer is complete and correct. Margin 783 1% Turnover 2.02 15.85 %