Mindy Norton Company Reported the Following Information for 2012 Required:
Based on This Information, Calculate the Company's Residual Income

question 132

Essay

Mindy Norton Company reported the following information for 2012: $$\begin{array} { l r } \text { Sales } & \$ 500,000 \\\text { Average Operating Assets } & \$ 300,000 \\\text { Desired ROI } & 10 \% \\\text { Net Income } & \$ 45,000\end{array}$$
Required:
Based on this information, calculate the company's residual income for 2012.

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Definitions:

Note Taking

A method of creating order and arranging thoughts and materials to help a person retain information.

Monotone Voice

A manner of speaking in which the pitch does not vary, often leading to a dull or unvaried delivery.

Attentive

Paying close attention or being careful about the tasks or people one is dealing with.

Note-Taking Systems

Methods or strategies used to record key information from lectures, books, or discussions for later review and study.