Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated 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-tern debt Stockholders' equity Total liabilities and stockholders' equity $ 132,000 334,000 565,000 819,000 399,000 253,000 $ 2,502,000 $ 137,000 489,000 456,000 778,000 429,000 248,00 $ 2,567,000 $ 384,000 981,000 1.137,000 $ 2,502,600 5 336,000 981,000 1,250,000 52,567,98 Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes Interest expense $ 122,000 Tax expense 194,000 Net income 5.4, 114,000 3,414,620 699,380 316,000 5 383, 390 The company paid dividends of $270,380 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% Answer is complete but not entirely correct. 1. Average operating assets $ 1,870,000 2. Margin 17.00 % 2. Tumover 2.20 2. ROI 15.25 % % 3. Residual income 361,200