The vice president of operations of Recycling Industries 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: Business Division Sales Consumer Division $56,000,000 30,500,000 Cost of goods sold Operating expenses Invested assets $42,800,000 23,500,000 11,424,800 34,240,000 14,300,000 70,000,000 Required: 1. Prepare condensed divisional income statements for the year ended December 31, 20Y8, assuming that there were no support department allocations. Recycling Industries Divisional Income Statements For the Year Ended December 31, 20Y8 Business Division Consumer Division Sales Cost of goods sold Gross profit Operating expenses Operating income eBook Show Me How Feesthack 2. Using the DuPont formula for return on investment, determine the profit margin, Investment turnover, and return on investment for each division. Round percentages to one decimal place and the investment turnover to two decimal places. Division Profit Margin Investment Turnover ROI Business Division % % Consumer Division % % 3. If management desires a minimum acceptable return on investment of 10%, determine the residual income for each division Residual Income Business Division Consumer Division 4. On the basis of operating income, the Consumer Division is the more profitable of the two divisions. However, operating income does not consider the amount of invested assets in each division. On the basis of residual income, the Business Division is the more profitable of the two divisions