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 $ 126,000 331,000 564,000 819,000 398,000 251,000 $ 2,489,000 130,000 470,000 479,000 801,000 434,000 249,000 $ 2,563,000 372,000 1,044,000 1,073,000 $ 2,489,000 $ 340,000 1,044,000 1,179,000 $ 2,563,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 113,000 Tax expense 199,000 Net income $ 4,092,000 3,519, 120 572,880 312,000 260,880 $ The company paid dividends of $154,880 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? Answer is complete but not entirely correct. 1. $ 1,860,000 2. Average operating assets Margin Turnover ROI Residual income 14.00 % 2.20 120.00% $ 1,953,000 3