Top Value Paint is a national paint manufacturer and retailer. The company has two divisions (segments): Flat Base and High Gloss. Management has specified that both divisions have a 20% target rate of retum. The company has the following data for the divisions: Flat Base High Gloss Net Sales $ 3.800,000 $ 1,300,000 Operating Income $ 456,000 $ 200,000 Average Total Assets $ 1,320,000 $ 1,200,000 Requirement 1: Calculate each division's ROI. Round answers to four decimal places. Operating Income $ 456,000 / Average Assets / S Flat Base High Gloss = ROI = 34.55% = 7. 1% $ Requirement 2: Calculate cach division's Profit Margin Ratio. Operating Income ! Flat Base High Gloss = Profit Margin Ratio = 8. % = 15.38 % Requirement 3: Calculate each division's Investment Turnover $ 3,800,000 Flat Base High Gloss Average Total Assets = Investment Turnover = 2.88 = 9. Requirement 4: Use the EXPANDED ROI formula to confirm your results from Requirement 1: Profit Margin Ratio X - ROI Flat Base High Gloss Requirement 5: Calculate each division's Residual Income Flat Base High Gloss =$ 192,000 = $ 10