Return on investmentThe Walt Disney Company (DIS) has four business segments, described as follows:• Media Networks: Television and radio• Parks and Resorts: Resorts, including Disneyland• Studio Entertainment: Motion pictures, musical recordings, and stage plays• Consumer Products & Interactive Media: Character merchandising, Disney stores, books, and gamesDisney recently reported segment operating income, revenue, and invested assets (in millions) as follows: Disney recently reported segment operating income, revenue, and invested assets (in millions) as follows:OperatingInvestedIncomeRevenueAssetsMedia Networks$7,755$23,689$32,706Parks and Resorts3,29816,97428,275Studio Entertainment2,7039,44115,359Consumer Products & Interactive Media1,9655,5289,332a. Use the DuPont formula to determine the return on investment for the four Disney segments. Round Profit Margin and ROI to one decimal place and Investment Turnover totwo decimal places.Profit MarginInvestment TurnoverROIMedia Networks%Paand Resorts%%Studio Entertainment%%Consumer Products & Interactive Media%%

Profit margin: Profit margin is the percentage of Profit (any profit or income) over sales Profit margin = Operating income / Revenue Investment turnover: the investment turnover is a ratio that measures how many times the revenue can be generated using the invested asset Investment turnover = Revenue / Invested asset ROI: ROI or Return on Investment is the percentage of return is generated from the investment ROI = Operating income / Invested asset Dupont model: Dupont model is a method of analyzing more than one ratio Dupont is the name of the company which firstly use this model Under Dupont Model ROI = Profit margin * Investment turnover = Operating income / Revenue * Revenue / Invested asset = Operating income / Invested asset So DuPont equation is correct Profit margin Investment Turnover ROI Media network 32.7% 0.72 times 23.5% Parks and resorts 19.4% 0.60 times 11.6% Studio Entertainment 28.6% 0.61 times 17.4% Consumer products and Interactive media 35.5% 0.59 times 20.9% Operating income Revenue Invested asset Profit margin (Operating income / Revenue) Investment Turnover (Revenue / Invested asset) ROI (Profit margin * Investment Turnover) Media network 7,755 23,689 32,706 = 7,755 / 23,689 = 32.7% = 23,689 / 32,706 = 0.72 times = 32.7% * 0.72 = 23.5% Parks and resorts 3,298 16,974 28,275 = 3,298 / 16,974 = 19.4% = 16,974 / 28,275 = 0.60 times = 19.4% * 0.60 = 11.6% Studio Entertainment 2,703 9,441 15,359 = 2,703 / 9,441 = 28.6% = 9,441 / 15,359 = 0.61 times = 28.6% * 0.61 = 17.4% Consumer products and Interactive media 1,965 5,528 9,332 = 1,965 / 5,528 = 35.5% = 5,528 / 9,332 = 0.59 times = 35.5% * 0.59 = 20.9%