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Ohio Golf Inc., specializes in managing and developing golf course communities in Ohio and surrounding states. In the most recent year, the company had a net operating income of $2,000,000 on sales of $10,000,000. The company's average operating assets for the year were $12,000,000 and its minimum rate of return is 15%.

Ignore the impact of income taxes in your calculation.

Compute the company's residual income for the year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9405631

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