19 1000 points The contribution format income statement for Huerra Company for last year is given below. $1,000,000 $50.00 600,000 30.00 Variable expenses 400,000 20.00 Contribution margin 324,000 16.20 Fixed expenses 76,000 3.80 Net operating income Income taxes 40% 30400 1.52 s 45,600 s 2.28 The company had average operating assets of $503.000 during the year