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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

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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 year. ($ millions) Invested assets, beginning Invested assets, ending Sales Operating income Beverage Division $2,662 2,593 2,681 349 Cheese Division $4,455 4,400 3,925 634 Assume that each of the company's divisions has a required rate of return of 7%. Compute residual income for each division. (Enter your answers in millions.) ($ millions) Beverage Cheese Targeted return Target income Residual Income Beverage Cheese Residual income

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