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 @ 30% Net income $ 4,000,000 2,800,000 1,200,000 840,000 360,000 108,000 $ 252,000 $ 80.00 56.00 24.00 16.80 7.20 2.16 $ 5.04 The company had average operating assets of $2,000,000 during the year