JEY-7107 Inc. reported the following data for last year: JEY-7107 Inc. Balance Sheet Beginning Balance Ending Balance Assets Cash $ 128,000 $ 140,000 Accounts receivable 339,000 476,000 Inventory 574,000 487,000 Plant and equipment, net 849,000 827,000 Investment in Tesla Inc. 394,000 432,000 Land (undeveloped) 246,000 250,000 Total assets $ 2,530,000 $ 2,612,000 Liabilities and Stockholders' Equity Accounts payable $ 371,000 $ 336,000 Long-term debt 982,000 982,000 Stockholders' equity 1,177,000 1,294,000 Total liabilities and stockholders' equity $ 2,530,000 $ 2,612,000 JEY-7107 Inc. Income Statement Sales $ 3,820,000 Operating expenses 3,208,800 Net operating income 611,200 Interest and taxes: Interest expense $ 115,000 Tax expense 209,000 324,000 Net income $ 287,200 JEY-7107 Inc. paid dividends of $170,200 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 companys residual income last year? multiple choice $ 337,450 $ 324,700 $ 315,200 $ 317,950

JEY-7107 Inc. reported the following data for last year: JEY-7107 Inc. paid dividends of $170,200 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%. JEY-7107 Inc. paid dividends of $170,200 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? $337,450 $324,700 $315,200 $317,950