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food manufacturer reports the following for two of its divisions for a recent year. Cheese Beverage Lon ($millions) TSTATA 2,550 2,687 355 S 000 Invested

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food manufacturer reports the following for two of its divisions for a recent year. Cheese Beverage Lon ($millions) TSTATA 2,550 2,687 355 S 000 Invested assets, beginning Invested assets, ending 4,900 Sales 3,931 640 Operating income Exercise 22-13 Residual income LO A1 Assume that each of the company's divisions has a required rate of return of 8.00%. Compute residual income for each division. (Enter your answers in millions.) ($ millions) Beverage Cheese Average assets Targeted return Target income Residual Income Beverage Cheese Residual income

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