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JEY-5965 Inc. reported the following data for last year: JEY-5965 Inc. Balance Sheet Beginning Balance $ 131,000 338,000 Ending Balance $ 140,000 Assets Cash
JEY-5965 Inc. reported the following data for last year: JEY-5965 Inc. Balance Sheet Beginning Balance $ 131,000 338,000 Ending Balance $ 140,000 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 Total liabilities and stockholders' equity 571,000 850,000 408,000 252,000 $ 2,550,000 475,000 474,000 841,000 431,000 252,000 $ 2,613,000 $ 381,000 1,050,000 1,119,000 $ 2,550,000 $ 344,000 1,050,000 1,219,000 $ 2,613,000 Sales Operating expenses JEY-5965 Inc. Income Statement $ 4,966,000 4,072,120 Net operating income Interest expense Interest and taxes: Tax expense Net income $ 124,000 199,000 893,880 323,000 $ 570,880 JEY-5965 Inc. paid dividends of $470,880 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 $ 620,130 $ 607,380 $ 600,630 $ 597,880
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