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The following data are for the Akron Division of Consolidated Rubber, Inc.: Sales $ 880,000 Net operating income $ 71,000 Average operating assets $ 380,000
The following data are for the Akron Division of Consolidated Rubber, Inc.:
Sales | $ | 880,000 |
Net operating income | $ | 71,000 |
Average operating assets | $ | 380,000 |
Stockholders' equity | $ | 88,000 |
Residual income | $ | 28,000 |
For the past year, the minimum required rate of return was:
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