Based on an analysis of operations, a company making sporting goods has determined that the income provided by its golf, ski, tennis, and football product lines are $5.5 million, $4.8 million, 33.6 million, and 52.4 million, respectively. The accountant believes that the investment levels in these product lines are $32 million, 555 million, $50 million, and 537 million, respectively. Requirement Use a residual income analysis to evaluate the performance of each ofthese product lines, assuming that the organization requires a 8% return on investment. Select the formula and calculate residual income for each ofthe product lines. Then, based on your analysis, evaluate the performance of each of these product lines. {Enter amounts in dollars and not in millions. Enter a "0" for amounts with a zero balance and use a minus sign or parentheses for a residual loss.) Product line I - I Residual income {loss} Golf I - I Ski I- I: Tennis I - I = Football I _ I = Based on an analysis ofoperations, a company making sporting goods has determined that the income provided by its golf, ski. tennis, and football product lines are $5.5 million, $4.8 million, 33.6 million, and 52.4 million, respectively. The accountant believes that the investment levels in these product lines are $32 million, 355 million. $50 million, and 537 million, respectively. Requirement Use a residual income analysis to evaluate the performance of each ofthese product lines, assuming that the organization requires a 8% return on investment. Select the formula and calculate residual income for each ofthe product lines. Then. based on your analysis, evaluate the performance of each of these product lines. (Enter amounts in dollars and not in millions. Enter a "O" for amounts with a zero balance and use a minus sign or parentheses for a residual loss.) Product line lYI :l 2 Residual income (loss) Ski _ I = I Tennis Cost ofcapital _ = | Football _ | = [ Income Investment Sales Turnover