22. Tombo Industries minimum required rate of return is 20%. The company closed the year with the following results: Sales Variable expenses Contribution margin Fixed expenses Net operating income Average operating assets 12,000,00 $ 0 7,200,000 4,800,000 4,000,000 $ 800,000 $ 6,000,000 View Grammarly's additional suggestions for this document. What is the residual income for last year: Got it + a) ($400,000) b) $400,000 c) ($348,000) d) ($340,000) 10