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Guyer Corporation Balance Sheet Beginning Balance Ending Balance Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in ABC, Inc. Land (undeveloped) Total assets
Guyer Corporation Balance Sheet Beginning Balance Ending Balance Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in ABC, Inc. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders equity $ 140,000 $ 120,000 450,000 530,000 320,000 380,eee 680,000 640,000 250,000 280, eee 180,000 170,000 $2,020,000 $2,120, eee $360,000 $310,000 1,500,000 1,5ee,eee 160,eee 310,000 $2,020,000 $2,120,000 $4,250,000 3,660,000 Guyer Corporation Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $150, eee Tax expense 110,000 Net income 390, eee 260,000 $ 130,000 The company paid dividends of $15,000 last year. The investment in ABC, Inc. on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 8%. What was the company's residual income last year? Multiple Choice $ 39,600 $.400 $220,400 $259,600
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