Question
Howard Company provided the following selected information about its consumer products division for the current year: Desired ROI 9% Net Income $ 232,200 Residual Income
Howard Company provided the following selected information about its consumer products division for the current year:
| Desired ROI | 9% |
|---|---|
| Net Income | $ 232,200 |
| Residual Income | $ 180,000 |
Based on this information, the division's investment amount was:
$2,000,000.
$4,580,000.
$2,580,000.
$580,000.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
