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Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Ending Beginning Balance Balance Assets 130,000 489,000
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Ending Beginning Balance Balance Assets 130,000 489,000 Cash $ 129,000 349,000 577,000 815,000 405,000 249,000 $ 2,524,000 Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) 482,000 809,000 426,000 249,000 Total assets $ 2,585,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity 385,000 977,000 1,162,000 $ 2,524,000 336,000 977,000 1,272,000 $ 2,585,000 Total liabilities and stockholders' equity Joel de Paris, Inc. Income Statement $ 4,725,000 3,921,750 803,250 Sales Operating expenses Net operating income Interest and taxes: $ 126,000 205,000 Interest expense Tax expense 331,000 Net income 472, 250 The company paid dividends of $362,250 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 2. Margin % Turnover ROI % 3. Residual income
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