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Compute the company residual income for the year

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Reference no: EM131788672

Question - Westerville Golf Co. specializes in managing and developing golf course communities in Ohio and surrounding states.

In the most recent year, the company had net operating income of $1,750,000 on sales of $8,000,000. The company's average operating assets for the year were $10,000,000 and its minimum rate of return is 16%.

Ignore the impact of income taxes in your calculation. Compute the company's residual income for the year.

Reference no: EM131788672

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