In December, the Western Division of Schell Corporation had average operating assets of $120,000 and...
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Accounting
In December, the Western Division of Schell Corporation had average operating assets of $120,000 and net operating income of $12,800. The company uses residual income, with a minimum required rate of return of 12%, to evaluate the performance of its divisions. What was the Western Division's residual income in December?
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