Required information Use the following information for the Exercises below. The following information apples to...
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Required information Use the following information for the Exercises below. The following information apples to the questions displayed below.] A food manufacturer reports the following for two of its divisions for a recent year Cheese Beverage ($millions) Division Division Invested assets, beginning Invested assets, ending Sales $2,550 $4,800 4,700 3,929 2,450 2,685 Operating income 353 638 Exercise 22-13 Residual income LO A1 Assume that each of the company's divisions has a required rate of return of 6.00%. Compute residual income for each division. (Enter your answers in millions.) ($ millions) Beverage Cheese Targeted return Target income Residual Income Beverage Cheese Residual income
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