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A food manufacturer reports the following for two of its divisions for a recent year. ($ millions) Beverage Division Cheese Division Invested assets, beginning $
A food manufacturer reports the following for two of its divisions for a recent year.
($ millions) | Beverage Division | Cheese Division | |||||
Invested assets, beginning | $ | 2,695 | $ | 4,488 | |||
Invested assets, ending | 2,609 | 4,416 | |||||
Sales | 2,697 | 3,941 | |||||
Operating income | 365 | 650 | |||||
3,941 Operating income ok 865 650 nt Assume that each of the company's divisions has a required rate of returr your answers in millions.) int (S millions) Beverage Cheese Targeted return Target income Beverage Cheese Residual Income Residual income
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