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JEY - 8 6 2 8 Inc. reported the following data for last year: JEY - 8 6 2 8 Inc. Balance Sheet:Beginning Balanceassets:Cash 1

JEY-8628 Inc. reported the following data for last year: JEY-8628 Inc. Balance Sheet:Beginning Balanceassets:Cash 135,000 accounts receivable 331,000 inventory 569,000 plan and equipment, net 895,000 investment in Tesla Inc. 394,000 land (undeveloped)247,000 total assets 2,571,000 liabilities and stockholders equity:Accounts payable 388,000 long-term debt 1,049,000 stockholders equity 1,134,000 total liabilities and stockholders equity 2,571,000Ending BalanceAssets:Cash 136,000 accounts receivable 490,000 inventory 485,000 Plant and equipment, net 859,000 Investment in Tesa Inc. 428,000 land (undeveloped)254,000 total assets 2,652,000 liabilities and stockholders equity:accounts payable 345,000 debt 1,049,000 stockholders equity 1,258,000 total liabilities and stockholders equity 2,652,000JEY-8628 Inc. Income Statement:sales 4,290,000 operating expenses 3,689,400 net operating income 600,600 interest in taxes: interest expense 130,000 tax expense 195,000 and 325,000 Net income 275,600 JEY-8628 Inc. paid dividends of $151,600 last year. The "Investment in Tesla Inc." item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15%.What was the company's residual income last year?$ 298,600$ 301,350$ 308,100$ 320,850

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