The Northern Division of the Gordon Company reported the following data for last year:

 

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