3 ! 1.42 points Required information Use the following information for the Exercises below. (The...
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Accounting
3 ! 1.42 points Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.] 03:53:46 A food manufacturer reports the following for two of its divisions for a recent year. eBook ($ millions) Invested assets, beginning Invested assets, ending Sales Operating income Beverage Division $2,679 2,601 2,689 357 Cheese Division $4,472 4,408 3,933 642 Hint Print Exercise 22-13 Residual income LO A1 References Assume that each of the company's divisions has a required rate of return of 6%. Compute residual income for each division. (Enter your answers in millions.) ($ millions) Beverage Cheese Targeted return Target income Residual Income Beverage Cheese Residual income
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