Exercise 9-6 Contrasting Return on Investment (R and Residual Income [LO9-1, LO9-21 Meiji Isetan Corp. of Japan has two regional divisions with headquarters in Osaka and Yokohama. Selected data on the two divisions follow: DIVISIOn Osaka Yokohama 9,200,000 22,000,000 Sales 552,000 1,760,000 Net operating income 2,300,000 11,000,000 Average operating assets Required 1. For each division, compute the return on investment (ROI) in terms of margin and turnover. (Do not round intermediate calculations. Enter your answers as a percent (i.e., 0.12 should be entered as 12).) Osaka Yokohama ROI 2. Assume that the company evaluates performance using residual income and that the minimum required rate of return for any division is 13%. Compute the residual income for each division. Osaka Yokohama Average operating assets Net operating income Minimum required return on average assets Residual income