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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
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 $ 138,000 $ 125,000 350,000 478,000 576,000 478,000 786,000 809,000 402,000 435,000 249,000 252,000 $ 2,504,000 $ 371,000 986,000 1,147,000 $2,574,000 $ 340,000 986,000 1,248,000 $ 2,504,000 $ 2,574,000 Sales Operating expenses Net operating income Income Statement $ 5,049,000 4,190,670 858,330 Interest and taxes: $112,000 190,000 302,000 $ 556,330 Interest expense Tax expense Net income Paid dividends of $455,330 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? $ 571,080 $ 590,580 $ 568,330 $577,830
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