Divisional Income Statements Final Questions Instructions The vice president of operations of Recycling Industries is evaluating the performance of two divisions organized as esment centers invested assets and condered income statement data for the past year for each division are as follows Sales Cost of goods sold Operating expenses Invested assets Business Division $42,800,000 23,500,000 11,424,800 34,240,000 Consumer Division $58,000,000 30,500,000 14,300,000 70,000,000 Required: 1. Prepare condensed divisional income statements for the year ended December 31, 2018, assuming that there were no se department charges 2. Using the DuPont formula for tureestment determine the pottaron en eatment turnover and retom on novestment for each division I'regured, round your answers to ho decimal places 3. W management desires animum acceptable refurn on investment of 10%, determine the residual income for each division 4 Discuss the evaluation of the two divisions, usng the performance measures previously determined in parts (162) and (3)