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Required informetion [The following information applies to the questions displayed below A food manufacturer reports the following for two of its divisions for a recent
Required informetion [The following information applies to the questions displayed below A food manufacturer reports the following for two of its divisions for a recent year. Cheese Division $4,455 4,480 3,925 Beverage Division $2,662 2,593 2,681 (smillions) Invested assets, beginning Invested assets, ending Sales Operating income 634 349 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.) Beverage Cheese Target income Targeted return Target income Beverage Cheese Residual Income Average assets Less. Target income Residual income
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