The vice president of operations of Free Ride Bike Company is evaluating the performance of two divisions organized as investment centers. Invested assets and condensed income statement data for the past year for each division are as follows: 1. Prepare condensed divisional income statements for the year ended December 31,20Y7, assuming that there were no support department allocations. 2. Using the DuPont formula for return on investment, determine the profit margin, Investment turniover, and rate of return on investment for each division. If required round your answers to one decimal place. 3. If management desires a minimum acceptable rate of return of 16%, determine the residual income for each division. 4. On the basis of operating income, the Division is the more profitable of the two divisions. However, operating income consider the amount of invested assets in each division. On the basis of residual income, the Division is the more profitable of the two divisions