Calculating Residual Income Forchen, Inc., provided the following information for two of its divisions for last year: Small Appliances Cleaning Products Division Division Sales Operating income $34,620,000 2,439,300 6,398,000 7,530,000 $31,350,000 1,254,300 5,710,000 6,200,000 Operating assets, January 1 Operating assets, December 31 Forchen, Inc., requires an 8 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 9 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