Required information [The following information applies to the questions displayed below.) Westerville Company reported the following results from last year's operations: Part 11 of 15 Sales $1,500,000 variable expenses 3000_ Contribution margin Fixed expenses Net operating income 770,000 470,000 $ 300,000 points eBook Average operating $ 937,500 assetS Print At the beginning of this year, the company has a $362,500 investment opportunity with the following cost and revenue characteristics: References $580,000 Sales Contribution margin ratio Fixed expenses saleS $319,000 The company's minimum required rate of return is 10%. 11. What is last year's residual income? esidua ncome