Question
The following data are for the Akron Division of Consolidated Rubber, Incorporated: Sales $ 910,000 Net operating income $ 77,000 Average operating assets $ 410,000
The following data are for the Akron Division of Consolidated Rubber, Incorporated:
| Sales | $ 910,000 |
|---|---|
| Net operating income | $ 77,000 |
| Average operating assets | $ 410,000 |
| Stockholders' equity | $ 91,000 |
| Residual income | $ 31,000 |
For the past year, what was the minimum required rate of return?
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
