In november, the universal solutions division of keaffaber corporation had average operating assets of $480,000 and net operating income of $46,200. the company uses residual income, with a minimum required rate of return of 11%, to evaluate the performance of its divisions. what was the universal solutions division's residual income in november?

On january 2, well co. purchased 10% of rea, inc.’s outstanding common shares for $400,000, which equaled the carrying amount and the fair value of the interest purchased in rea’s net assets. well did not elect the fair value option. because well is the largest single shareholder in rea, and well’s officers are a majority on rea’s board of directors, well exercises significant influence over rea. rea reported net income of $500,000 for the year and paid dividends of $150,000. in its december 31 balance sheet, what amount should well report as investment in rea?