Please help me with this question. Thanks

Financial information for the year ended December 31, 2021 for one of Riley Corporations two divisions, the West Division, organized as an investment center, is shown below:

Revenues $13,000,000

Service Department Charges 2,000,000

Operating Expenses 4,500,000

Cost of Goods Sold 4,000,000

In addition to the above, total corporate administrative expenses of $400,000 were incurred during the year. The corporate administrative expenses were not directly controllable by either of the two divisions.

The management of Riley Corporation has established an 8% minimum acceptable return for its invested assets. The West Division had $16,500,000 of invested assets on December 31, 2021.

Instructions

Prepare a detailed calculation of the

(a) income from operations

(b) residual income

MUST SHOW ALL YOUR WORK!