Calculate the residual income for the tuxedo division was, Financial Accounting

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Calculate the residual income for the tuxedo division was

RESIDUAL INCOME

The Tuxedo Division of Shamus O'Toole Company had operating income last year of $180,000 and average operating assets of $2,000,000. O'Toole's minimum acceptable rate of return is 7 percent.

Required:

1. Calculate the residual income for the Tuxedo Division.

2. Was the ROI for the Tuxedo Division greater than, less than, or equal to 7 percent?

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Financial Accounting: Calculate the residual income for the tuxedo division was

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