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 $998,000 $ 49.90 29.94 19.96 16.16 3.80 1.52 $45,600 $ 2.28 598,800 399,200 323,200 76,000 30,400 The company had average operating assets of $502,000 during the year