Beginning Balance Ending Balance Assets Cash 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 Stockholders' equity Total liabilities and stockholders' equity $ 138,000 343,000 570,000 849,000 404,000 251,000 $ 2,555,000 $ 131,000 475,000 479,000 855,000 427,000 255,000 $ 2,622,000 $ 376,000 976,000 1,203,000 $ 2,555,000 $ 340,000 976,000 1,306,000 $ 2,622,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 115,000 Tax expense 200,000 Net income $ 4,416,000 3,621, 120 794,880 315,000 479,880 $ The company paid dividends of $376,880 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%. Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 115,000 Tax expense 200,000 Net income $ 4,416,000 3,621, 120 794,880 315,000 479,880 $ The company paid dividends of $376,880 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. (Round "Margin", "Turnover" and "ROI" to 2 decimal places.) 3. What was the company's residual income last year? 1. Average operating assets Margin 2. % Turnover ROI % 3. Residual income