Calculating Residual income Forchen, Inc., provided the following information for two of its divisions for last year: Small Appliances Cleaning Products Division Division Sales $34,690,000 $31,320,000 Operating income 2,705,200 1,253,000 Operating assets, January 1 6,399,000 5,660,000 Operating assets, December 31 7,570,000 6,760,000 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