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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 Beverage Division 2,679 2,601 2,689 Cheese Division $4,472 4,408 3,933 ($millions) Invested assets, beginning Invested assets, ending Sales Operating income 357 642 Assume that each of the company's divisions has a required rate of return of 6%. Compute residual income for each division. Enter your answers in millions.) ($millions) Beverage Cheese Targeted return Target income Residual Income Beverage Cheese Residual income
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