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 Operating assets, January 1 Operating assets, December 31 $34,620,000 2,499,900 6,398,000 7,570,000 $31,350,000 1,254,900 5,760,000 6,290,000 Forchen, Inc., requires an 6 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 7 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