JEY-4502 Inc. reported the following data for last year: JEY-4502 Inc. Balance Sheet Ending Balance Assets Cash $ 137,000 $ 137,000 332,000 485,000 Accounts receivable Inventory 577,000 485,000 Plant and equipment, net 804,000 783,000 Investment in Tesla Inc. 399,000 431,000 247,000 Land (undeveloped) 254,000 Total assets $ 2,503,000 $ 2,568,000 Liabilities and Stockholders' Equity $ 342,000 Accounts payable Long-term debt $ 381,000 987,000 1,135,000 Stockholders' equity 987,000 1,239,000 $ 2,568,000 Total liabilities and stockholders' equity $ 2,503,000 JEY-4502 Inc. Income Statement Sales $5,049,000 4,392,630 656,370 Operating expenses Net operating income Interest and taxes: Interest expense Tax expense $ 113,000 192,000 305,000 Net income $ 351,370 JEY-4502 Inc. paid dividends of $247,370 last year. The "Investment in Tesla Inc." item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15%. What was the company's residual income last year? O $375,870 O $366,370 O $ 369,120 O $388,620 Beginning Balance