Exercise 10-2 (Algo) Residual Income [LO10-2] Juniper Design provides design services to residential developers. Last year the company had net operating income of
$410,000
on sales of
$1,200,000
. The company's average operating assets were
$1,400,000
and its minimum required rate of return was
10%
. Required: Compute the company's residual income. Residual income

Question

Exercise 10-2 (Algo) Residual Income [LO10-2] Juniper Design provides design services to residential developers. Last year the company had net operating income of

$410,000

on sales of

$1,200,000

. The company's average operating assets were

$1,400,000

and its minimum required rate of return was

10%

. Required: Compute the company's residual income. Residual income

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