Determine the April 20xx Residual Income for an Investment Center

question 113

Multiple Choice

Determine the April 20xx residual income for an investment center with the following information: $\begin{array}{lr}\text { Operating income for the month ended April 30, 20xx } & \$ 14,900,000 \\\text { Assets at March 31, 20xx } & 10,200,000 \\\text { Assets at April 30, 20xx } & 13,150,000 \\\text { Desired ROI } & 49 \% \\\text { Actual ROI } & 60 \%\end{array}$

• A) $8,456,500
• B) $8,780,000
• C) $9,179,250
• D) $8,945,750

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