Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet 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 130,000 338,000 570,000 802,000 400,000 249,000 $ 2,489,000 $ 133,000 481,000 476,000 790,000 428,000 246,000 $2,554,000 $ 375,000 1,036,000 1,078,000 $ 2,489,000 $ 341,000 1,036,000 1,177,000 $2,554,000 Joel de Paris, Inc. Income Statement sales Operating expenses Net operating income Interest and taxes: Interest expense $ 123,000 Tax expense 195,000 Net income $ 5,022,000 4,118,040 903,960 318,000 585, 960 $ The company paid dividends of $486,960 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. 2. % Average operating assets Margin Turnover ROI Residual income 1% 3