Barry Manilow Co

Balance sheet

ASSET Beginning balance Ending balance

Cash $125.000 $138000

Account receivable $350000 $487000

Inventory 578000 478000

Plant and equipment, net 807000 797000

Investment in Brier Company 393000 429000

Land (undeveloped) 252000 255000

Total assets $2,505,000 $25840000

LIABILITIES AND STOCKHLDER's EQUITY

Account payable 381000 345000

Long-term debt 989000 989000

Stockholder's equity 1135000 1250000

Total liabilities and stockholders' equity 2,505,000 1,250000

Barry Manilow Co

Income statement

Sales $4,700,000

Operating expenses 4,041,000

Net operating income 658,000

Interest and taxes:

Interest expense $122,000

Tax expense $208,000 330,000

Net income 328,000

The company paid dividends of $213000 last year. The investment in Bner Company on the balance sheet represents an investment in the stock of another company

1. Compute the company's residual income? Please help me out