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Problem - University Hospital provided the following income statement for two of its divisions: Diagnostic and Outpatient. Both divisions are structured as investment centers.
Segment Margin Income Statement for University Hospital
Diagnostic
Outpatient
Total
Revenue
$500,000
$400,000
$900,000
Variable expenses
Product
220,000
140,000
360,000
Selling and administrative
150,000
80,000
230,000
Contribution margin
130,000
180,000
310,000
Less traceable fixed costs
82,000
93,000
175,000
Segment margin
$48,000
$87,000
135,000
Common fixed costs
Net operating income
$5,000
The average assets for Diagnostic and Outpatient divisions total $400,000 and $600,000, respectively. The required minimum rate of return for both divisions is 10%.
Required: Calculate the current residual income for the Outpatient division.
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