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Carter Company reported the following financial numbers for one of its divisions for the year;...

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Accounting

Carter Company reported the following financial numbers for one of its divisions for the year; average total assets of $4,220,000; sales of $4,645,000; cost of goods sold of $2,670,000; and operating expenses of $1,492,000. Assume a target income of 10% of average invested assets. Compute residual income for the division:

Multiple Choice

  • $48,300.

  • $197,500.

  • $18,500.

  • $61,000.

  • $71,000.

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