Divisional Income Statements and Retum on imvestment Analysis: Horizon Foods Inc. is a diversified food products company with three operating divisions organized as imvestment centers. Condensed data taken from the records of the three divitions for the year ended June 30, 20r7, are as follows: The management of Horizon Foods inc, is evaluating each diviaion as a basis for planning a future expansion of operations, Hequired 1. Prepare condensed divitional income statements for the three divisions, asiuming that there were no vervice department chargesi 2. Using the Dupont formula, compute the profit margin, investment turnover, and return on investiment for each division. Round to one decimal place. Ferestbara T Coes uy woh 2. Operating incomb divided by sales equals prohit margin. Sales divided by invested assets equal investment turnoves Multiply these two percentages for the rate of return. 3. If available funds permit the expansion of eperations of only one division, which of the divisions would you recommend for expansion, based on parts (t) and (2)? Complete the paragraph below. Note: Round any amounts to the nearest cent.d Per dollar of invested assets, the Division is the most profitable of the three divisions. Assuming that the returns on investment do not change in the future, an expansion of this division will return X cents on each dollar of inveited assets. Thus when faced with limited funds for expansien, management should consider the division identified above