Exercise 11-2 Residual Income [LO11-2) Juniper Design Ltd. of Manchester, England, Is a company specializing in providing design services to residential developers. Last year, the company had net operating Income of $410,000 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 12% Required: Compute the company's residual income for the year, Reoldal income