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 $ 128,000 341,000 573,000 838,000 404,000 250,000 $ 2,534,000 $ 136,000 471,000 477,000 836,000 427,000 254,000 $ 2,601,000 $ 387,000 1,016,000 1,131,000 $ 2,534,000 $ 347,000 1,016,000 1,238,000 $ 2,601,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 115,000 Tax expense 195,000 Net income $ 5,130,000 4,309,200 820,800 310,000 510,800 $ The company paid dividends of $403,800 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: 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. $ 1,900,000 2. Average operating assets Margin Turnover % 2.70 ROI % 3. Residual income