The contribution format income statement for Huerra Company for last year is given below: Total Unit Sales Variable expenses Contribution margin Fixed expenses Net operating income Income taxes @ 40% Net income S 50.40 30.24 20.16 16.36 3.80 1.52 S 2.28 $ 1,008,000 403,200 327,200 76,000 30,400 $45,600 The company had average operating assets of $504,000 during the year