Please calculate Residual Income with given data. Provide Excel formula.

Given Data:

Utilize the following data to illustrate the evaluation of each financial performance measure (Use Labeled Tabs as templates of each Performance Measure): Status Quo Company Data (without Potential Project): Data relating to Potential Project that could be added: Average Net Operating Assets $1,000,000 Incremental Net Operating Assets $100.000 Sales Revenue $1,500,000 Incremental Sales Revenue $150,000 Operating Expense $1,400,000 Incremental Operating Expense $134.000 Required Rate of Return 18%Residual Income Status Quo: Potential Project: Required Rate of Return Required Rate of Return Average Net Operating Assets Average Net Operating Assets Required Return on Net Operating Assets Required Return on Net Operating Assets Operating Income Operating Income Required Return on Net Operating Assets Required Return on Net Operating Assets Residual Income Residual Income Status Quo + Potential Project: Required Rate of Return Average Net Operating Assets Required Return on Net Operating Assets Operating Income Required Return on Net Operating Assets Residual Income