Solved: Determining the residual income, Accounting Basics

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Determining the residual income

Question: The following selected data pertain to the belt division of Allen Corp. for last year:

Sales 1,000,000
Average operating assets 400,000
Net operating income 100,000
Turnover 2.5
Minimum required return 20%

How much is the residual income?

20,000
80,000
900,000
100,000

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Accounting Basics: Determining the residual income

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