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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and
Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet 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 Beginning Balance $ 128,000 335,000 571,000 Ending Balance $ 125,000 488,000 826,000 394,000 254,000 $ 2,508,000 $ 379,000 977,000 1,152,000 Total liabilities and stockholders' equity $ 2,508,000 473,000 814,000 427,000 252,000 $ 2,579,000 $ 333,000 977,000 1,269,000 $ 2,579,000 Joel de Paris, Incorporated Income Statement Sales Operating expenses Interest and taxes: Net operating income Interest expense Tax expense Net income $ 115,000 207,000 $ 4,888,000 4,105,920 782,080 322,000 $460,080 The company paid dividends of $343,080 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?
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