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Required information [The following information applies to the questions displayed below.] A food manufacturer reports the following for two of its divisions for a recent

Required information

[The following information applies to the questions displayed below.]

A food manufacturer reports the following for two of its divisions for a recent year.

($millions) Beverage Division Cheese Division
Invested assets, beginning $ 2,662 $ 4,455
Invested assets, ending 2,593 4,400
Sales 2,681 3,925
Operating income 349 634

Assume that each of the companys divisions has a required rate of return of 7%. Compute residual income for each division. (Enter your answers in millions.)

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