Thornton Corporation operates three investment centers. The following financial statements apply to the investment center named Bowman Division: BOWMAN DIVISION Income Statenent For the Year Ended December 31, 2018 Sales revenue $107,480 59,475 48,005 Cost of goods sold Gross margin Operating expenses Selling expenses Depreciation expense Operating income Nonoperating item Loss of sale of land (2,740) (4,145) 41,120 (3,80e) $ 37,320 Net incone BOWMAN DIVISION Balance Sheet As of December 31, 2018 Apceto Cash $ 12,562 Accounts receivable Merchandise inventory Equipment less accumulated depreciation Nonoperating assets 40,276 36,58e 9e,278 9,100 Total assets $188,716 Liabilities Accounts payable Notes payable Stockholders' equity $9,547 68,e00 Common stock 74,000 37,169 Retained earnings Total liabilities and stockholder's equity $188,716 Required c. Calculate the ROI for Bowman. d. Thornton has a desired ROI of 10 percent. Headquarters has $89,000 of funds to assign to its investment centers. The manager of the Bowman Division has an opportunity to invest the funds at an ROI of 12 percent. The other two divisions have investment oDDortunities that vield onlv 11 percent. Calculate the new ROI for Bowman division. if the investment oooortunitv is adooted bv Notes payable Stockholders' equity 68,000 Common stock 74,000 Retained earnings Total liabilities and stockholder's equity 37,169 $188,716 Required c. Calculate the ROI for Bowman. d. Thornton has a desired ROI of 10 percent. Headquarters has $89.000 of funds to assign to its investment centers. The manager of the Bowman Division has an opportunity to invest the funds at an ROI of 12 percent. The other two divisions have investment opportunities that yleld only 11 percent. Calculate the new ROI for Bowman division, if the investment opportunity is adopted by Bowman. e. Based on the original data, calculate the original residual income. Also, calculate the new residual income based on information provided in Requirement d Complete this question by entering your answers in the tabs below. Required C Required D Required E Based on the original data, calculate the original residual income. Also, calculate the new residual income based on information provided in Requirement d. (Round your fimal answer to nearest whole dollar.) Original residual incomer 23,158 S New residual income Required D Required E