Payne Company Reported the Following Information for the Current Year

Payne Company reported the following information for the current year: The company's residual income was:
$$\begin{array} { | l | l r | } \hline \text { Sales } & \$ & 1,600,000 \\\hline \text { Average Operating Assets } & \$ & 500,000 \\\hline \text { Desired ROI } & & 14 \% \\\hline \text { Net Income } & \$ & 85,000 \\\hline\end{array}$$

A) $(15,000) .
B) $14,000.
C) $15,000.
D) $24,000.

Correct Answer:

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