Question: Ribocon Corp. has established a 12 percent target ROI for its Lynchfield Division. The following data have been gathered for the divisions operations for the

Ribocon Corp. has established a 12 percent target ROI for its Lynchfield Division. The following data have been gathered for the divisions operations for the year: average total assets, $14,200,000; revenues, $28,000,000; and expenses, $26,500,000.

a. What is the divisions residual income? $Answer b. Did the division successfully meet the target ROI? AnswerYesNo

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