Walton Corporation operates three investment centers. The following financial statements apply to the investment center named Bowman Division BOWMAN DIVISION Income Statement For the Year Ended December 31, 2018 Sales revenue $105,680 59,875 45,805 Cost of goods sold Gross margin Operating expenses Selling expenses Depreciation expense (2,670) 4,185 38,950 Operating income Nonoperating item Loss of sale of land 4,900 Net income 34,050 BOWMAN DIVISION Balance Sheet As of December 31, 2018 Assets Cash Accounts receivable Merchandise inventory Equipment less accumulated depreciation Nonoperating assets 12,612 40,276 37,900 90,398 9,900 $191,086 Total assets Liabilities Accounts payable Notes payable $ 9,607 69,000 stockholders' equity Common stock Retained earnings 78,000 34,479 $191,086 Total liabilities and stockholder 's equity Required c. Calculate the ROI for Bowman. d. Walton has a desired ROI of 12 percent. Headquarters has $96,000 of funds to assign to its investment centers. The manager of the Bowman Division has an opportunity to invest the funds at an ROl of 14 percent. The other two divisions have investment opportunities that yield only 13 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 Calculate the ROI for Bowman. (Round your answer to 2 decimal places. (i.e., .2345 should be entered as 23.45).) ROI