Instructions For this homework assignment, you will need the Unit VIII Homework Worksheet that includes your unit questions. Be sure to follow all directions and show your work for each problem.

Instructions For this homework assignment, you will need the Unit VIII Homework Worksheet that includes your unit questions. Be sure to follow all directions and show your work for each problem.
1. Far Sight is a division of a major corporation. The following data are for the latest year of operations: Sales $24,480,000 Net operating Income $1,738,080 Average operating assets $6,000,000 The company’s minimum required rate of return 16% Required: a. What is the division’s return on investment (ROI)?b. What is the division’s residual income?   2. Eacher Wares is a division of a major corporation. The following data are for the latest year of operations: Sales $14,720,000 Net operating income $1,000,960 Average operating assets $4,000,000 The company’s minimum required rate of return 14%   Required: a. What is the division’s margin?b. What is the division’s turnover?c. What is the division’s return on investment (ROI)?d. What is the division’s residual income?   3. Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store’s operations follow: • Sales are budgeted at $360,000 for November, $380,000 for December, and $350,000 for January.• Collections are expected to be 75% in the month of sale, 20% in the month following the sale, and 5% uncollectible.• The cost of goods sold is 65% of sales.• The company desires an ending merchandise inventory equal to 60% of the cost of goods sold in the following month.• Payment for merchandise is made in the month following the purchase.• Other monthly expenses to be paid in cash are $21,900.• Monthly depreciation is $20,000.• Ignore taxes. Balance Sheet October 31 Assets: Cash $16,000 Accounts receivable (net of allowances for uncollectable accounts $74,000 Merchandise inventory $140,400 Property, plant and equipment (net of $500,000 accumulated depreciation) $1,066,000 Total Assets: $1,296,400 Liabilities and Stockholders’ Equity: Accounts payable $240,000 Common stock $640,000 Retained earnings $416,000 Total liabilities and stockholders’ equity: $1,296,400  Required: a. Prepare a Schedule of Expected Cash Collections for November and December.b. Prepare a Merchandise Purchases Budget for November and December.c. Prepare Cash Budgets for November and December.d. Prepare Budgeted Income Statements for November and December.e. Prepare a Budgeted Balance Sheet for the end of December.