Joseph Company Reported the Following Information for the Current Year

Multiple Choice

Joseph Company reported the following information for the current year: $$\begin{array} { l c c } \text { Sales } & \$ 787,000 \\\text { Average Operating Assets } & \$ 375,000 \\\text { Desired ROI } & 12 \% \\\text { Residual Incone } & \$ 11,250\end{array}$$ The company's operating income was:

A) $94,440.
B) $56,250.
C) $45,000.
D) $33,750.