PART 1 Rainy Days Inc. has assembled the following data for one of its divisions for the past year: Division B Sales $350,000 Variable expenses 25% of sales Fixed expenses $200,000 Average operating assets $250,000 Current return on investment 25.0% Minimum Required Rate of Return 21.0% Required: Calculate the residual income for Division B. Enter your answer below with no dollar sign, no comma and round to the nearest dollar (2 marks) Your