The Northern Division of the Gordon Company reported the following data for last year: Sales...... $900,000 Shareholders' Equity.. $320,000 Operating Expenses....... $700,000 Average Operating Assets.............. $500,000 Interest Expense... $50,000 Tax Expense.. $60,000 Minimum Required Rate of Return..... 15% What was the residual income for the Northern Division last year? $ 135,000 $ 90,000 $ 125,000 $ 48,000