Flamengo Co is a sporting goods manufacturing. Last year, report the following information: Sales $620,000 Cost of goods sold $136,000 Selling and administrative expense $264,000 At the beginning of the year, the value of operating assets was $236,000. At the end of the year, the value of operating assets was $363,000. Flamengo Co. requires a minimum rate of return of 15%. Total capital employed equals $350,000. Calculate the Residual Income (Carry computations out to two decimal places.)