Return to Blackboard S pond, Financial and Managerial, se CALCULATOR PRINTER VERSION 4 BACK NEXT Problem 23-7A Sheffield Industries has manufactured prefabricated houses for over 20 years. The houses are constructed in sections to be assembled on customers lots Sheffield expanded into the precut housing market when it acquired Jensen Company, one of its suppliers. In this market, various types of lumber are precut into the appropriate lengths, banded into packages, and shipped to customers lots for assembly. Sheffield designated the songen Division as an investment center Sheffield uses return on investment (ROI) as a performance measure with investment defined as average operating assets Management bonuses are based in part on ROLAN Investments are expected to earn a minimum rate of return of 19.2 Jensen's Rol has ranged from 21.5% to 24.1% since it was acquired. Jensen had an investment opportunity in 2020 that had an estimated Roof 20.45. Jensen management decided against the investment because it believed the investment would decrease the division's overall ROL Selected financial Information for Jensen are presented below. The division's average operating assets were 112,037,000 for the year 2020, SHEFFIELD INDUSTRIES Jensen Division Selected Financial Information For the Year Ended December 31, 2020 Sales $25,760,000 Contribution margin 8,999,000 Controllable margin 2,575,914 Calculate the following performance measures for 2020 for the Jensen Division (Round ROI o I decimal place, ...) (1) Return on investment (ROI) (2) Residual income