A company wishes to evaluation a division which has the following profit and loss account and balance sheet:
|
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|
£000 |
|
Sales |
500 |
|
Gross profit |
200 |
|
Other costs |
(80) |
|
Net profit |
120 |
|
Balance sheet |
£000 |
|
Fixed assets |
750 |
|
Current assets |
350 |
|
Current liabilities |
(450) |
|
Net assets |
650 |
What is the residual income for the division if the company has a cost of capital of 18%?
A £3000
B £21 600
C £83 000
D £117 000
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