Required information Chapter 10: Applying Excel: Excel Worksheet (Part 1 of 2) Step 1: Download the Applying Excel form located on the left-hand side, under files. If you have trouble, the file is also located in D21 under Course Files and Resources Step 2: Verify that your worksheet matches the Review Problem in the text. Then enter formulas in all cells that contain question marks p Step 3: Check your worksheet by changing the average operating assets in cell B6 to $9,000,000. The ROI should now be 33% and the residual income should now be $750,000. If you do not get these answers, find the errors in your worksheet, and correct them. Step 4: Proceed to the requirements below only after completing your worksheet as it will be used to answer the following questions. Requirement 2: Revise the data in your worksheet as follows: A 1 Chapter 10: Applying Excel 2 3 Data 4 Sales 5 Net operating income 6 Average operating assets 7 Minumum required rate of return $ 30,000,000 $ 1,500,000 $ 15,000,000 14% If your formulas are correct, you should get the correct answers to the following questions, a. What is the ROP ROI b. What is the residual income? (Negative amount should be indicated by a minus sign.) Residual income B. C c 1 Chapter 10: Applying Excel 2 3 Data 4 Sales $25,000,000 5 Net operating income $3,000,000 6 Average operating assets $10,000,000 7 Minimum required rate of return 25% 8 9 Enter a formula into each of the cells marked with a ? below 10 Review Problem: Return on Investment (ROI) and Residual Income 11 + 12 Compute the ROI 13 Margin ? 14 Turnover ? 15 ROI ? 16 m 17 Compute the residual income 18 Average operating assets ? 19 Net operating income ? 20 Minimum required return ? 21 Residual income ? 22