Data for the California, Midwest, Northwest, and Texas divisions of Firefly Industries are as follows:

a. Determine the missing items, identifying each by the letters (a) through (l). Round profit margin to one decimal place and investment turnover to two decimal places.
b. Determine the residual income for each division, assuming that the minimum acceptable rate of return established by management is 10%.
c. Which division is the most profitable in terms of (1) return on investment and (2) residualincome?

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Income from Operations Invested Assets Rate of Return on Profit Investment Sales Investment Margin Turnover 20% 12% California 6,000,000 Midwest Northwest 13,750,000 Texas 16% $1,512,000 $11,000,000 3,500,000 17.5% 5,250,000 840,000