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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
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 $ 134,000 Ending Balance $ 139,000 474,000 338,000 576,000 484,000 872,000 863,000 394,000 425,000 252,000 251,000 $ 2,566,000 $ 2,636,000 $ 388,000 $ 345,000 986,000 1,192,000 986,000 1,305,000 $ 2,566,000 $ 2,636,000 Sales Operating expenses cement Net operating income Interest and taxes: $ Interest expense 118,000 Tax expense 204,000 $ 5,238,000 4,609,440 628,560 322,000 Net income $ 306,560 paid dividends of $193,560 last year. The " item on the balance sheet represes an investment in the stock of another company. The company's minimum required rate of return s 15%. What was the company's residual income last year
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