Izzy Division of Marine Boats Corporation had the following results last year (in thousands). Sales...
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Izzy Division of Marine Boats Corporation had the following results last year (in thousands). Sales $4,700,000 Operating income $700,000 Total assets $4,500,000 Current liabilities $200,000 Management's target rate of return is 14% and the weighted average cost of capital is 12%. What is the Izzy Division's Residual Income (RI)? O A. $700,000 B. $98,000 C. $630,000 OD. $70,000
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