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ABC Corporation has two major divisions: Agricultural Products and Industrial Products. It provides the following information for the year 2014 Calculate the residual income for

ABC Corporation has two major divisions: Agricultural Products and Industrial Products. It provides the following information for the year 2014

Calculate the residual income for the Agriculture division.

Sales revenue Operating income Average total assets Target rate of return Agriculture Division Industrial Division $140,000 $1,040,000 $46,400 $220,000 $300,000 $5,540,000 14.0% 14.0%

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