Assets Cash Joel de Paris, Inc. Balance Sheet Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Net income Beginning Balance Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense $360,000 $ 310,000 1,500,000 1,500,000 Stockholders' equity 160,000 290,000 Total liabilities and stockholders' equity $2,020,000 $2,100,000 S 140,000 $120,000 450,000 530,000 320,000 380,000 650,000 620,000 250,000 280,000 180,000 170,000 $2,020,000 $2,100,000 Joel de Paris, Inc. Income Statement Ending Balance $150,000 110,000 $4,050,000 3,645,000 405,000 260,000 $ 145,000 The company paid dividends of $15,000 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. Page 529 2. Compute the company's margin, turnover, and return on investment (ROI) for last year. (Hint: Should you use net income or net operating income in your calculations?) 3. What was the company's residual income last year?

rock of ancther company. The compary's minimam required rate of retura of 15K. Required: 1. Compute the compang's awrage operatieg amets for latt your. set operating income in your culculation? 3. What vas the coerpasy's retidul iecoene fast ytan