Midlands design ltd of manchester england is a company

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Midlands Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of 400,000 on sales of 2,000,000. The company s average operating assets for the year were 2,200,000 and its minimum required rate of return was 16%.

Compute the company's residual income for the year.

Reference no: EM13605334

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