East Mullett Manufacturing earned operating income last year as shown in the following income statement: 

Sales $3,750,000 

Cost of goods sold 2,250,000 

Gross margin $1,500,000 

Selling and administrative expense 1,200,000 

Operating income $ 300,000 

Less: Income taxes (@ 40%) 120,000 

Net income $ 180,000 

At the beginning of the year, the value of operating assets was $1,600,000. 

At the end of the year, the value of operating assets was $1,400,000. 

Total capital employed equaled $1,200,000. 

East Mullett's actual cost of capital is 4%. 

Required: 

Calculate the EVA for East Mullett Manufacturing.