Current Attempt in Progress Charles Wilson, founded by a former vice-president of Sunland Industries, has been manufacturing prefabricated houses for the past five years. To compete with Sunland. Charles also expanded into the precut housing market by acquiring one of its suppliers, Presser Company. After designating Presser as an investment centre. Charles next decided to use the ROI as a performance measure and to give managers bonuses that are partly based on the ROI. Charles defines investments as average productive assets and expects a minimum return of 15% before income taxes. Presser's ROI has averaged 19.5% since it was acquired. In 2022, Presser found an investment opportunity that would have an estimated ROI of 18%. After analyzing the opportunity. Presser's management finally decided not to make the investment because management did not want the division's overall ROI to decrease. The 2022 income statement for Presser follows. The division had operating assets of $22.05 million at the end of 2022, which was a 5% increase over the 2021 year-end balance. Sales revenue Cost of goods sold Gross margin Operating expenses Administrative Selling PRESSER DIVISION Income Statement Year Ended June 30, 2022 (in thousands) Income from operations before income taxes $60,000 39.200 20,800 $5,310 9,463 14,773 $6,027 (a) Calculate the following performance measures for 2022 for the Presser division: (1) The return on investment (2) The residual income $ %