Residual Income The Consumer Division of Lewandowski Company has income from operations of $9,043,000 and assets of $57,900,000. The minimum acceptable return on assets is 11%. What is the residual income for the division?
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![Residual Income
The Consumer Division of Lewandowski Company has income from operations of $9,043,000 and assets of $57,900,000. The minimum acceptable return
on assets is 11%.
What is the residual income for the division?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0d3975cd-4ee1-4a32-9a42-7564910249af%2F92be8365-3c72-46a5-bb5d-7ae75294819a%2F9vbmvor_processed.png&w=3840&q=75)
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Given that:
Income from operations = $90,43,000
Assets invested = $57,900,000
Minimum acceptable return on assets = 11%
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