Raymond Candles Ltd has just reported an operating profit of 38 million for the year ending October 2019. The results of its three operating divisions are presented below. million Division A B C Total Sales 300 250 200 750 Operating Profit 15 15 8 38 Capital Employed 45 60 40 145 The company currently uses Return on Capital Employed (ROCE) as its single measure to assess and compare the financial performance of the divisions. However, the company has now decided: To use Residual Income (RI) as a divisional performance measure in addition to ROCE. The company has calculated its cost of capital at 8%. To use Balanced Scorecard (BSC) to measure performance. You may assume that the company does not pay corporation tax. Required: a) Determine the ROCE for the company and each of its three divisions and give your opinion as to whether the company as a whole is making a satisfactory return. (8 marks) b) Using the companys cost of capital of 8% determine and comment on the Residual Income for each division. (6 marks) c) Using the balanced scorecard, recommend 4 non-financial performance measures you feel the company should adopt and justify your choice. (8 marks max 240 words) d) Critically assess the use of balanced Scorecard to assess performance. (8 marks max 240 words)