Monfett manufacturing earned operating income last year as shown in the following income
statement:
sales $620,000
cost of goods sold 316,000
gross margin $304,000
selling and administrative expense 219,000
operating income $ 85,000
less: income taxes (at 40%) 34,000
net income $ 51,000
at the beginning of the year, the value of operating assets was $263,000. at the end of the year, the value of operating assets was $336,000. monfett manufacturing requires a minimum rate of return of 15%. total capital employed equal $350,000 and actual cost of capital is 6%.

required:
calculate the following:
1.residual income
2.ev