ABC Company reported the following results from last year's operations: FRN 24 Sales $11,000,000 100 Variable expenses $8.200.000 rt Contribution margin $2,800,000 Fixed expenses $2.360.000 Net operating income $440,000 Average operating assets $5,000,000 The company's minimum required rate of return is 10%. Last year's residual income was closest to: ($60,000) 1$638,000) Sales $11,000,000 Variable expenses $8.200.000 Contribution margin $2,800,000 Fixed expenses $2.360.000 Net operating income $440,000 Average operating assets $5,000,000 The company's minimum required rate of return is 10%. Last year's residual income was closest to: O (560,000) (5638,000) $490,000 O $440,000