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 S 139,000 338,000 579,000 804,000 406,000 251,000 $ 2,517,000 $ 139,000 483,000 484,000 794, 000 430,000 252,000 $ 2,582,000 $ 384,000 1,016,000 1, 117,000 $ 2,517,000 S 350,000 1,016,000 1,216,000 $ 2,582,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 127,000 Tax expense 195.000 Net income $5,076,000 4,213,080 962, 920 322,000 540, 920 $ Net income $ 322.000 540,920 The company paid dividends of $441,920 last year. The "Investment in Buisson SA. 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 tumover 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 3 Residual income