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Assume the Brando Division of MH Enterprises, Inc. had the following results this past year (expressed in thousands). The company's management has a required rate of return of 10% and MH Enterprises' weighted average cost of capital is 8%.. Mh Enterprises' effective tax rate is 30%.
Sales $3,000,000
Operating income $500,000
Total assets $4,500,000
Current liabilities $300,000
Question a) What is Brando Division's return on investment? Be sure to show work!
Question b) What is Brando Division's residual income? Be sure to show work!
Question c) Which is a better measure (ROI or residual income) to evaluate a Division's performance. (research the advantages and disadvantages of ROI vs Residual Income.
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