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Ribocon Corp. has established a 12 percent target ROI for its Lynchfield Division. The following data have been gathered for the division's operations for the
Ribocon Corp. has established a 12 percent target ROI for its Lynchfield Division. The following data have been gathered for the division's operations for the year: average total assets, $14,200,000; revenues, $28,000,000; and expenses, $26,500,000. a. What is the division's residual income? \$ b. Did the division successfully meet the target ROI
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