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Financial data for Joel de Paris, Incorporated, for last year follow Joel de Paris, Incorporated Assets Cash Accounts receivable Inventory Plant and equipment, net
Financial data for Joel de Paris, Incorporated, for last year follow Joel de Paris, Incorporated Assets Cash Accounts receivable Inventory Plant and equipment, net Balance Sheet Beginning Balance $127,000 Ending Balance $132,000 340,000 477,000 578,000 483,000 865,000 858,000 398,000 427,000 246,000 251,000 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 Joel de Paris, Incorporated Income Statement Sales Operating expenses Interest and taxes: Net operating incone Interest expense Tax expense Net income $129,000 205,000 $ 4,632,000 3,983,520 648,480 334,000 $314,400 $ 2,554,000 $387,000 956,000 1,211,000 $ 2,628,000 $349,000 956,000 1,323,000 $ 2,628,000 $2,554,000 The company paid dividends of $202,480 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. (Do not round intermediate calculations and round your final answers to 2 decimal places.) 3. What was the company's residual income last year? Answer is complete but not entirely correct.
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