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I give likes always Inc. reported the following data for last year: Inc. Balance Sheet Beginning Balance: Ending balance Assets Cash $ 140,000 341,000 $
I give likes always
Inc. reported the following data for last year: Inc. Balance Sheet Beginning Balance: Ending balance Assets Cash $ 140,000 341,000 $ 127,000 488,000 Accounts receivable, Inventory 573,000 483,000 Plant and equipment, net 876,000 872,000 Investment in Tesla Inc. 398,000 427,000 Land (undeveloped) 246,000 246,000 Total assets $ 2,574,000 $ 2,643,000 Liabilities and Stockholders' Equity $ 337,000 Accounts payable Long-tern debt $375,000 959,000 1,240,000 Stockholders equity. 959,000 1,347,000 $ 2,643,000 Total liabilities and stockholders' equity $ 2,574,000 Inc. Income Statement Sales $4,290,000 3,560,700 729,300 Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net Income $ 121,000 195,000 316,000 $ 413,300 Inc. paid dividends of $306,300 last year. The "Investment in Tesla Inc." item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15%. What was the company's residual income last year? O$ 436,800 inc. paid dividends of $306,300 last year. The "Investment in Tesla Inc." item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15% What was the company's residual income last year? O$ 436,800 O$427,300 O $ 449,550 O$430,050 Step by Step Solution
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