a. What is the ROI?

b. What is the residual income?

c. Why is the residual income positive?

Step 3: Check your worksheet by changing the average operating assets in cell B6 to $9,000,000. The ROI should now be 33% and the residual income should now be $750,000. If you do not get these answers, find the errors in your worksheet and correct them. Step 4: Proceed to the requirements below only after completing your worksheet as it will be used to answer the following questions. Chapter 10: Applying Excel: Exercise Requirement 2: Revise the data in your worksheet as follows: B A Chapter 10: Applying Excel 1 2. 3 Data 4. Sales $ 24,000,000 5 Net operating income 6 Average operating assets 7 Minumum required rate of return $ 2,160,000 $ 8,000,000 15%