The Casket Division of Saal Corporation had average operating assets of $990,000 and net operating income of $175,200 in January. The company uses residual income to evaluate the performance of its divisions, with a minimum required rate of return of 13%. Required: What was the Casket Division's residual income in January?

The Casket Division of Saal Corporation had average operating assets of $990,000 and net operating income of $175,200 in January. The company uses residual income to evaluate the performance of its divisions, with a minimum required rate of return of 13%. Required: What was the Casket Division's residual income in January? Residual income