Calculating Residual Income Forchen, Inc., provided the following information for two of its divisions for last year: Forchen, Inc, requires an 7 percent minimum rate of return. Required: 1. Calculate residual income for the Small Appliances Division. 2. Calculate residual income for the Cleaning Products Division. 3. What if the minimum required rate of return was 8 percent? How would that affect the residual income of the two divisions? Small Appliances Division residual income would be Cleaning Products Division residual income would be