BOWMAN DIVISION Income Statement For the Year Ended December 31, Year 2 SalesrevenueCostofgoodssoldGrossmarginOperatingexpensesSellingexpensesDepreciationexpenseOperatingincomeNonoperatingitemLossonsaleoflandNetincome$106,08059,37546,705(2,710)(4,065)39,930(4,400)$35,530 BOWMAN DIVISION Balance Sheet Assets As of December i, Year 2 Cash Accounts receivable Merchandise inventory Equipment less accumulated depreciation Nonoperating assets Total assets Liabilities Accounts payable Notes payable Stockholders' equity Common stock Retained earnings Total liabilities and stockholder's equity $189,60633,119 c. Calculate the ROI for Bowman. d. Walton has a desired ROl of 11 percent. Headquarters has $94,000 of funds to assign to its investment centers. The manager of the Bowman Division has an opportunity to invest the funds at an ROI of 13 percent. The other two divisions have investment opportunities that yield only 12 percent. Calculate the new ROI for Bowman division, if the investment opportunity is adopted by Bowman. e. Based on the original data, calculate the original residual income. Also, calculate the new residual income based on information provided in Requirement d