Effect of Proposals on Divisional Performance A condensed income statement for the Electronics Division of Gihbli Industries Inc. for the year ended December 31 is as follows: Sales Cost of goods sold Gross profit Operating expenses Income from operations Invested assets $4,480,0003,211,400$1,268,600731,000$537,600$3,200,000 Assume that the Electronics Division received no cost allocations from service departments. expense would be included as part of the cost of goods sold. Sales would remain unchanged. or loss. book value, would be scrapped at no gain or loss. The new machinery would increase invested assets by $1,600,000 for the year. 2. Prepare condensed estimated income statements and compute the invested assets for each proposal. Gihbli Industries Inc. -Llectronics Division Fetimatres income intatemente 4. Which of the three proposals would mect the required 19.23 retum an investment. Propueal 1 Proposal 2 Proposal 3 as a percentage of current investment tumover. Round interim calculations (including previously calculated) and final answer to one decimal place