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Pritchard Company reports the below for its beverage and cheese divisions. ($millions) Beverage Division Cheese Division Invested assets, beginning $ 2,668 $ 4,461 Invested assets,

Pritchard Company reports the below for its beverage and cheese divisions.

($millions) Beverage Division Cheese Division
Invested assets, beginning $ 2,668 $ 4,461
Invested assets, ending 2,596 4,403
Sales 2,684 3,928
Operating income 352 637

Each of the companys divisions has a required rate of return of 7%. For each division, compute residual income. (Enter your answers in millions.)image text in transcribed

($ millions) Beverage Cheese Targeted return Target income Residual Income Beverage Cheese Residual income

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