2) 1.

Juniper Design Limited of Manchester. England, is a compary specializing in providing design services to residentual dovelopers. Last year the company had net operating income of $480.000 on sales of $1,100.000. The company's average operating assets for the year were $1,300,000 and its minimum required rate of return was 15%. Required: Compute the company's residual income for the year