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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

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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 D2L 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. Step 3: Check your worksheet by changing the average operating assets in cell 86 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: B 1 Chapter 10: Applying Excel 2 3 4 5 Data Sales Net operating income Average operating assets Minumum required rate of retum $ 24,000,000 $ 3,360,000 $ 12,000,000 11% 6 7 fyour formulas are correct, you should get the correct answers to the following questions. a. What is the ROI? ROI % b. What is the residual income? (Negative amount should be indicated by a minus sign.) Residual income c. Why is the residual income positive

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