27 Financial data for Guyer Corporation, for last year follow: Guyer Corporation Balance Sheet Beginning Ending Balance Balance Assets Cash $ 140,000 $ 120,000 Accounts receivable 450,000 530,000 Inventory 320,000 380,000 Plant and equipment, net 680,000 640,000 Investment in ABC, Inc. 250,000 280,000 Land (undeveloped) 180,000 170,000 Total assets $2,020,000 $2,120,000 Liabilities and Stockholders' Equity Accounts payable $ 360,000 $ 310,000 Long-term debt 1,500,000 1,500,000 Stockholders' equity 160,000 310,000 Total liabilities and stockholders equity $2,020,000 $2,120,000 $4,050,000 3,620,000 Guyer Corporation Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $150,000 Tax expense 110, eee Net income 430, eee 260,000 $ 170, eee - Spring 2020 Saved Help Save & Exit LESCAPE Tax expense Net income AJU, 110,000 260,000 $ 170, eee The company paid dividends of $15.000 last year. The "Investment in ABC, Inc.' on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 9% What was the company's residual income last year? Multiple Choice $23.300 $283,300 $239.200 5-20.800