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  3. 21. holo company reported the following financial

21. Holo Company reported the following financial numbers for one of its divisions for the...

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Accounting

21. Holo Company reported the following financial numbers for one of its divisions for the year; average assets of $5,950,000; sales of $5,525,000; cost of goods sold of $3,300,000; and operating expenses of $1,162,000. Assume a target income of 13% of average assets. Compute residual income for the division:

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