Waldon Corporation's balance sheet shows that the company has $600,000 invested in operating assets. During Year 2, Waldon earned $120,000 on $960,000 of sales. The company's desired return on investment (ROI) is 12 percent. Required a. Complete the spreadsheet to calculate ROI and residual income using these data. Spreadsheet Tips 1. The cells below row 21 that show numbers should all be based on formulas. This allows the results to be automatically recalculated based on changes in the data in rows 12 to 15. 3. Explore the power of formulas by copying cells A12:131 into the scratchpad area below. There you will be able to modify the given information (currently in cells C12:C15) and see the resulting 10 changes in ROI and residual income. $600,000 $960,000 11 12 Net income 13 Sales 14 Investment 15 Desired ROI 12% $960,000 $600,000 12% 16 17 ROI Margin x Turnover 18 19 Net income ROI x 20 Sales Sales Investment 222332 ROI 24 25 ROI 26 ROI = 27 28 Residual income Earned Income - Investment X Desired ROI 29 Residual income 30 Residual income = X = 31 Residual income = $120,000 12%