TB MC Qu. 10-68 (Static) Gauntlett Incorporated reported the following... Gauntlett Incorporated reported the following results from last year's operations: Sales Variable expenses Contribution margin Fixed expenses Net operating income Average operating assets $ 12,000,000 9,580,000 2,420,000 1,460,000 $ 960,000 $ 5,000,000 At the beginning of this year, the company has a $1,300,000 investment opportunity with the following characteristics: Sales $ 4,680,000 Contribution margin ratio 50% of sales $ 2,059,200 Fixed expenses Last year's turnover was closest to