13 < > Noriaki's Canning manufactures cans used in a variety of industries. The company split its operations into two divisions: beverages and food products. The information for the past year is as follows: Beverages Net Sales Operating Income Average Total Assets $1,435,900 $261,100 Food Products $2,177,700 $437,900 $684,600 $952,800 Noriaki's Canning management has targeted a 22% rate of return. (Round your answers to two decimal places when needed and use rounded answers for all future calculations). 1. Calculate each division's ROI. Division Operating Income / Average Total Assets = ROI (%) Beverages Food Products 2. Calculate each division's profit margin ratio. Division Operating Income / Net Sales Profit Margin Ratio (%) Beverages Food Products 3. Compute each divisions' assets turnover ratio. Division Net Sales / Average Total Assets = Asset Turnover Ratio Beverages Food Products 4. Using the information from Steps 2 & 3, double check your ROI as computed in Step 1. (Note: these values are using rounded answers and therefore the final percent may be slightly different due to rounding errors.) Division Profit Margin Ratio (%) X Asset Turnover Ratio = ROI (%) Beverages Food Products X X