Juniper Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of $480,000 on sales of $2,100,000. The companys average operating assets for the year were $2,300,000 and its minimum required rate of return was 14%.

Required: Compute the companys residual income for the year.

Average operating assets	$
Net operating income	$
Minimum required return
Residual income	$