NE JOS NODE JONION | DU 9 's act Ashville Company has two divisions Bikes and Trikes. lhs lle | AM) Segmented Income Statements For the Current Fiscal Year Ended December 31 Bikes Division Trikes Division Sales $2.400.000 S1.000.000 Cost of goods sold 1.400.000 530.000 Gross margin 1,000,000 470.000 Allocated overhead (from corporate) 270.000 170.000 Selling and administrative expenses 190,000 140,000 Operating income 540,000 160.00 Income tax expense (405) 216,000 64,000 Net income S 324.000 S.96.000 29. Refer to Exhibit 11-1. Using the segmented income statements, what is the profit margin ratio for the Bikes Division (to the nearest tenth of a percent)? a 13 S b. 41.7% C. 22.5% d. 58.3% e. None of the answer choices is correct. 30. Refer to Exhibit 11-1. Assume the Trikes Division has average operating assets totaling $400.000 for the year. What is the division's return on investment? a 19.2% b. 40.0% c. 90.0% d. 24.0% e. None of the answer choices is correct 31. Refer to Exhibit 11-1. Assume the Trikes Division has average operating assets totaling $400,000 for the year and the company's cost of capital rate is ten percent. What is the residual income for the Trikes division? a. $585,000 b. $1,380,000 c. $24.000 d. $120.000 e. None of the answer choices is correct