Quiz i Gibson Corporation operates three investment centers. The following fina Bowman Division. BOWMAN DIVISION Income Statement For the Year Ended December 31, Year 2 Sales revenue $106, 780 Cost of goods sold 58,575 Gross margin 48, 205 Operating expenses Selling expenses (2,700) Depreciation expense (4,085) Operating income 41, 420 Nonoperating item Loss on sale of land (4,400) Net income $ 37,020 BOWMAN DIVISION Balance Sheet As of December 31, Year 2 Assets Cash $ 12,622 Accounts receivable 40,306 Merchandise inventory 36,300 Equipment less accumulated depreciation 90, 398 Nonoperating assets 9. 100 Total assets $ 188, 726 Liabilities Accounts payable $ 9,617 Notes payable 69,909 Stockholders' equity Common stock 78,900 Retained earnings 32, 109 Total liabilities and stockholder's equity $ 188, 726NULEO payavlc US Stockholders' equity Common stock 78 Retained earnings 32 Total liabilities and stockholder's equity $188 Required c. Calculate the ROI for Bowman. d. Gibson has a desired ROI of 12 percent. Headquarters has $91, Bowman Division has an opportunity to invest the funds at an F opportunities that yield only 13 percent. Calculate the new ROI Bowman. e. Based on the original data, calculate the original residual incon provided in Requirement d. Complete this question by entering your answers in the tab Required C Required D Required E Gibson has a desired ROI of 12 percent. Headquarters has $91,000 of the Bowman Division has an opportunity to invest the funds at ar investment opportunities that yield only 13 percent. Calculate the n is adopted by Bowman. (Round your answer to 2 decimal places. (i. New ROI 20.01 %