EXAM 4 (CHAPTERS 11 & 13) 10 50 points 01:23:08 Saved Information from the financial statements Marble Patch, Inc. for last year are shown below: Assets Cash Accounts receivable Inventory Plant and equipment (net) Long-Term Investment. Statement of Financial Position. Land (held for future use) Total assets Liabilities and owners' equity Accounts payable Long-term debt Stockholders' equity Total liabilities and owners' equity Beginning Balance Ending Balance. $346,000 202,000 298,000 463,000 318,000 237,000 $ 1,864,000 $ 249,000 855,000 760,000 $ 1,864,000 $ 324,792 159,000 299,000 455,000 293,000 237,000 $1,767,792 $ 228,000 855,000 684,792 5 1,767,792 Mc Graw Income Statement Sales Less operating expenses Net operating income Less intereat and taxess Interest expense Tax expense Net income $1,790,000 1,440,950 349,050 $ 98,600 125,658 224,258 $ 124,792 Last year, Marble Patch, Inc. paid dividends of $200,000. The "Long-Term Investments" on the corporation's statement of financial position represents an investment in the stock of another company. Required: a. Compute Marble Patch, Inc.'s margin, turnover, and return on investment for last year. b. Marble Patch Inc. desires a minimum required return of 25%. What was the corporation's residual income last year? Complete this question by entering your answers in the tabs below. < Prev 10 of 18 Next > Help