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Carter Company reported the following financial numbers for one of its divisions for the year;...

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Accounting

Carter Company reported the following financial numbers for one of its divisions for the year; average total assets of $4,110,000; sales of $4,535,000; cost of goods sold of $2,560,000; and operating expenses of $1,382,000. Assume a target income of 11% of average invested assets. Compute residual income for the division:

Multiple Choice

  • $217,250.

  • $150,900.

  • $140,900.

  • $98,400.

  • $65,230.

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