6 JEY-4905 Inc. reported the following data for last year: JEY-4905 Inc. Balance Sheet 013004 Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Tesla Inc. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Beginning Balance Ending Balance $132,000 $ 132,000 332,000 475,000 568,000 474,000 898,000 889,000 402,000 433,000 246,000 248,000 $2,578,000 $ 2,651,000 $ 373,000 1,000,000 1,205,000 $2,578,000 $330,000 1,000,000 1,321,000 $ 2,651,000 Sales JEY-4905 Inc. Income Statement Operating expenses Net operating income Interest and taxesi Interest expense Net income. $ 5,265,000 4,527,900 737,100 $120,000 202,000 330,000 $ 407,100 JEY-4905 Inc. paid dividends of $291,100 last year. The "Investment in Tesla Inc." Item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15% What was the company's residual income last year? 6 0129.44 Accounts receivable Inventory Plant and equipment, net Investment in Tesla Inc. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity JEY-4905 Inc. Income Statement 332,000 475,000 568,000 474,000 898,000 889,000 402,000 246,000 $2,578,000 $ 373,000 1,000,000 1,205,000 $2,578,000 433,000) 248,000 $ 2,651,000 $330,000 1,000,000 1,321,000 $ 2,651,000 Sales Operating expenses Net operating income Interest and taxes Interest expense Net income $128,000 202,000 $5,265,000 4,527,900 737,100 330,000 $ 407,100 JEY-4905 Inc. paid dividends of $291,100 last year. The "Investment in Tesla Inc." Item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15% What was the company's residual income last year? $444,600 $435,100 $437,850 $ 457,350