Required information [The following information applies to the questions displayed below.) Westerville Company reported the following results from last year's operations: Sales Variable expenses Contribution margin Fixed expenses Net operating income Average operating assets $ 1,500,000 650,000 850,000 580,000 $ 270,000 $ 1,000,000 At the beginning of this year, the company has a $160,000 investment opportunity with the following cost and revenue characteristics: Sales Contribution margin ratio Fixed expenses $ 240,000 70% of sales $ 144,000 AP The company's minimum required rate of return is 10%. 11. What is last year's residual income? Residual income Required information [The following information applies to the questions displayed below.) Westerville Company reported the following results from last year's operations: Sales Variable expenses Contribution margin Fixed expenses Net operating income Average operating assets $ 1,500,000 650,000 850,000 580,000 270,000 $ 1,000,000 At the beginning of this year, the company has a $160,000 investment opportunity with the following cost and revenue characteristics: Sales Contribution margin ratio Fixed expenses $ 240,000 70% of sales $ 144,000 The company's minimum required rate of return is 10% 12. What is the residual income of this year's investment opportunity? Residual income Required information [The following information applies to the questions displayed below.) Westerville Company reported the following results from last year's operations: $ Sales Variable expenses Contribution margin Fixed expenses Net operating income Average operating assets 1,500,000 650,000 850,000 580,000 270,000 $ 1,000,000 At the beginning of this year, the company has a $160,000 investment opportunity with the following cost and revenue characteristics: Sales Contribution margin ratio Fixed expenses $ 240,000 70% of sales $ 144,000 The company's minimum required rate of return is 10%. 13. If the company pursues the investment opportunity and otherwise performs the same as last year, what residual income will it eam this year? Residual income