Divisional Performance Analysis and Evaluation The vice president of operations of Moab Bike Company is evaluating the performance of two divisions organized as investment centers. Invested assets and condensed income statement data for the past year ending October 31, 20Y9, for each division are as follows: Touring Bike Division Trail Bike Division Sales $5,880,000 $6,160,000 Cost of goods sold 2,587,000 2,895,000 Operating expenses 2,234,600 2,279,400 Invested assets 4,900,000 4,400,000 Required: 1. Prepare condensed divisional income statements for the year ended October 31, 20Y9, assuming that there were no service department charges. Moab Bike Company Divisional Income Statements For the Year Ended October 31, 20Y9 Trail Bike Division Touring Bike Division Sales Cost of goods sold Gross profit Operating expenses 2. Using the DuPont formula for return on Investment, determine the profit margin, investment turnover, and return on investment for each division. Round all answers one decimal place. Profit Margin Investment Turnover ROI Touring Bike Division Trail Bike Division % 3. If management desires a minimum acceptable rate of return of 12%, determine the residual income for each division. Use the minus sign to indicate a negative income. Residual Income Touring Bike Division: Trail Bike Division: residual income than the Trail Bike Division. 4. The Touring Bike Division has more