10-15 Return on Investment (ROI) and Residual Income [LO10-1, LO10-2] Financial data for Joel de Paris, Inc., for last year follow: Assets Cash Accounts receivable Inventory Joel de Paris, Inc. Balance Sheet Beginning Balance Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Inc. Income Statement Sales Operating expenses Interest and taxes: Tax expense Net operating income Interest expense Net income $ 4,464,000 3,928,320 535,680 $ 111,000 193,000 304,000 $ 231,680 Ending Balance $ 137,000 $ 130,000 336,000 486,000 561,000 474,000 806,000 790,000 393,000 427,000 252,000 254,000 $ 2,485,000 $ 2,561,000 $ 386,000 $ 347,000 998,000 1,101,000 998,000 1,216,000 $ 2,485,000 $ 2,561,000 The company paid dividends of $116,680 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%. Required: 1. Compute the company's average operating assets for last year. 2. Compute the company's margin, turnover, and return on investment (ROI) for last year. (Do not round intermediate calculations and round your final answers to 2 decimal places.) 3. What was the company's residual income last year? | 1. Average operating assets 2. Margin 3. Turnover ROI Residual income % %