AIU - Class Homepage X AIU X + G A studentlogin.aiuniv.edu/UnifiedPortal/2/5/#/class/275157/assignment/2450316 ASUS Software Port.. MyASUS Software -.. Assignment Description You will create this assignment following the Assignment Detail instructions below. Review the tutorial How to Submit an Individual Project Assignment Details The income statement comparison for Forklift Material Handling shows the income statement for the current and prior year. FORKLIFT MATERIAL HANDLING Income Statement Comparison Current Year Prior Year (Amounts in thousands) Sales $33,750 $24,750 Cost of goods sold 21,938 16,830 Gross profit $11,812 $7,920 Wages $8,775 $6, 188 Utilities 675 250 Repairs 169 325 Selling 506 200 Total expenses $10,125 $6,963 Operating income Operating income % Total assets (investment base) $4,500 $1,500 Return on investment Residual income (8% cost of capital) Determine the operating income (loss) (dollars) for each year. Determine the operating income (percentage) for each year. The company made a strategic decision to invest in additional assets in the current year. These amounts are provided. Using the total assets amounts as the investment base, calculate the Was the decision to invest additional assets in the company successful? Explain. Assuming an 8% cost of capital, calculate the residual income for each year. Explain how this compares to your findings in the previous question. Use this template to help with your assignment. Submitting your assignment in APA format means, at a minimum, you will need the following: . Title page: Remember the running head. The title should be in all capitals. 65.F Sunny