Nobles Corporation Provided the Following Income Statement for Two of Its

Nobles Corporation provided the following income statement for two of its divisions: East and West.
$$\begin{array}{c}\textbf{Segment Margin Income Statement for Nobles Corporation}\\\\\begin{array}{lrrr}& \underline{\textbf{East}} & \underline{\textbf{West}} & \underline{\textbf{Total}} \\\text{Revenue} & \$510,000 & \$480,000 & \$990,000 \\\text{Variable expenses} \\\text{~~Product} & 370,000 & 260,000 & 630,000 \\\text{~~Selling and administrative} & \underline{80,000} & \underline{88,000} & \underline{168,000} \\\text{Contribution margin} & 60,000 & 132,000 & 192,000 \\\text{Less traceable fixed costs} & \underline{20,000} & \underline{40,000} & \underline{60,000} \\\text{Segment margin} & \underline{\underline{\$40,000}} & \underline{\underline{\$ 92,000}} & 132,000 \\\text{Common fixed costs} & & & \underline{140,000} \\\text{Net operating income} & & & \underline{\underline{\$ 8,000}} \\\end{array}\end{array}$$ Nobles' actual weighted-average cost of capital is 10% and its tax rate is 30%.The East division balance sheet showed $300,000 of assets $60,000 current and $240,000 long-term and $320,000 of liabilities $120,000 current and $200,000 long-term.The West division reported $360,000 of assets $80,000 current and $280,000 long-term and $260,000 of liabilities $60,000 current and $200,000 long-term.
a.Calculate the economic value added for each division.
b.Which of the two managers will be rated higher on performance? Why?