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The Top Hat Division of Blandon's Fine Menswear had the following results last year (in thousands). Sales Operating Income Total assets Current liabilities $4,500,000 $675,000

The Top Hat Division of Blandon's Fine Menswear had the following results last year (in thousands). Sales Operating Income Total assets Current liabilities $4,500,000 $675,000 $3,000,000 $250,000 Top Hat's tax rate is 40%. Management's required target rate of return is 12%. What is the Top Hat Division's Residual Income (RI)? $75,000 $405,000 $345,000 $135,000

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