Unit 7 - Chapter 10 Assignment i Saved 11 Part 11 of 15 Required information (The following information applies to the questions displayed below.) Westerville Company reported the following results from last year's operations: 10 points Sales Variable expenses Contribution margin Fixed expenses Net operating income Average operating assets $1,400,000 510,000 890,000 610,000 $ 280,000 Print $ 875,000 At the beginning of this year, the company has a $175,000 investment opportunity with the following cost and revenue characteristics: Sales Contribution margin ratio Fixed expenses $280,000 50% of sales $ 98,000 The company's minimum required rate of return is 15%. 11. What is last year's residual income? Residual income