IN Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] A food manufacturer reports the following for two of its divisions for a recent year. (5 millions) Invested assets, beginning Invested assets, ending Sales Operating income Beverage Division $2,662 2,593 2.681 349 Cheese Division $4,455 4.400 3,925 634 Exercise 09-13 Residual income LO A1 Assume that each of the company's divisions has a required rate of return of 7%. Compute residual income for each division (Enter your answers in millions.) (5 millions) Invested assets, beginning Invested assets, ending Sales Operating income DEVEF Division $2,662 2,593 2,681 349 Division $4,455 4,400 3.925 634 Exercise 09-13 Residual income LO A1 Assume that each of the company's divisions has a required rate of return of 7%. Compute residual income for each division (Enter your answers in millions.) $ Beverage 5,255 2% $ (5 millions) Average assets Targeted return Target Income Residual Income Operating income Less Target income Residual income Cheese 8,855 2% 177 Cheese $ Beverage