Juniper Design Limited of Manchester, England, is a company specializing in providing design services to residential developers. Last

year the company had net operating income of $$600,000$ on sales of $$3,000,000.$ The company's average operating assets for the

year were $$2,800,000$ and its minimum required rate of return was $18\%.$

Required:

Compute the company's residual income for the year.

Residual income