Howard company provided the following selected information about its consumer products division for the current year:

1 answer:

Ber [7]2 years ago

8 0

With Desired ROI 12% , Net income$361,600 , Residual income $280,000, the division's investment amount of Howard company will be $680000.

Since, Residual Income = Net Income - Investment X desired ROI

thus, putting the values given,

$280000 = $361,600 - Investment X 12%

Investment = [361600 - 280000]/12%

Investment = [81600 * 100] / 12

Investment = $680,000

The question is incomplete, complete question can be found here

Howard Company provided the following selected information about its consumer products division for the current year:

Desired ROI 12%Net income$361,600 Residual income$280,000

Based on this information, the division's investment amount was?

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