6 Joel de Paris, Inc. Income Statement Sales $3,820,000 Operating expenses Net operating income Interest and taxes: 3,208,800 611,200 points Skipped $ 118,000 192,000 Interest expense Tax expense 310,000 Net income 301,200 eBook Ask The company pald dividends of $201,200 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% Print References Required: 1. Compute the company's average operating assets for last year. 2. Compute the company's margin, turnover, and return on investment (R0) for last year. (Round "Margin", "Turnover" and "ROI" to 2 decimal places.) 3. What was the company's residual income last year? 1. Average operating assets 2. Margin % Tumover ROI % 3 Reeidal innme Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance Assets ed Cash 138,000 477,000 484,000 831,000 428,000 253,000 137,000 349,000 576,000 828,000 407,000 250,000 Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) ook sk Total assets $2,547,000 2,611,000 int Liabilities and Stockholders' Equity Accounts payable Long-term debt. Stockholders' equity 372,000 1,047,000 1,128,000 $ 2,547,000 336,000 1,047,000 1,228,000 ences Total liabilities and stockholders' equity $ 2,611,000 Joel de Paris, Inc Income Statement Sales $3,820,000 3,208,800 611,200 Operating expenses Net operating income Interest and taxes Interest expense $ 118,000 192,000 Tax expense 310,000