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Inc. Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Tesla Inc. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts
Inc. Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Tesla Inc. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Beginning Balance $ 125,000 333,000 569,000 Ending Balance $ 135,000 479,000 486,000 790,000 430,000 252,000 823,000 407,000 249,000 $ 2,506,000 $ 383,000 951,000 1,172,000 Total liabilities and stockholders' equity $ 2,506,000 $ 2,572,000 $ 347,000 951,000 1,274,000 $2,572,000 Inc. Income Statement Sales Operating expenses Net operating income $ 3,740,000 3,216,400 523,600 Interest and taxes: $ 114,000 198,000 Interest expense Tax expense Net income 312,000 $211,600 nc. paid dividends of $109,600 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
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