Exercise 10-2 (Algo) Residual Income [LO10-2] Juniper Design Limited of Manchester, England, is a company speclalizing in providing design services to residential developers; Last year the company had net operating income of $500,000 on sales of $2,000,000. The company's average operating assets for the year were $2,200,000 and its minimum required rate of return was 12%. Required: Compute the company's residual income for the year