income of $$460,000$ on sales of $$1,300,000.$ The company's average operating assets for the year were $$1,500,000$ and its minimum required rate of return was $11\%.$

Required:

Compute the company's residual income for the year.

$\backslash$table$[[$Average operating assets$],[$Net operating income$],[$Minimum required return$],[$Residual income$]]$