Exercise 10-2 (Algo) Residual Income [LO10-2] Juniper Design Limited of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of $460,000 on sales of $1,100,000. The company's average operating assets for the year were $1,300,000 and its minimum required rate of return was 10%. Required: Compute the company's residual income for the year. Residual income