Required information {The foilowing information applies to the questions displayed below} Westerville Company reported the following results from last year's operations: Sales $ 1,866,600 1il'ariable expenses $548,680 Contribution margin 1,058,000 Fixed expenses 768,606 Net operating income 3; 358,396 Average operating assets w At the beginning of this year, the company has a $400,000 investment opportunity with the following cost and revenue characteristics: Sales 5 603,608 Contribution margin ratio 56 55 of sales Fixed expenses 5 238,066 The company's minimum required rate of return is 10%. 11. What is last year's residual income? _:I Required information [The following information applies to the questions displayed below.] Westerville Company reported the following results from last year's operations: Sales $ 1, 800, 000 Variable expenses 740, 900 Contribution margin 1, 060, 000 Fixed expenses 700, 900 Net operating income $ 360,900 Average operating assets $ 1, 200, 000 At the beginning of this year, the company has a $400,000 investment opportunity with the following cost and revenue characteristics: Sales $ 600, 090 Contribution margin ratio 60 % of sales Fixed expenses $ 288, 000 The company's minimum required rate of return is 10%. 12. What is the residual income of this year's investment opportunity? Residual income