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Financial data for Joel de Paris, Incorporated, for last year follow: Ending Balance Joel de Paris, Incorporated Balance Sheet Beginning Balance Assets Cash $ 127,000
Financial data for Joel de Paris, Incorporated, for last year follow: Ending Balance Joel de Paris, Incorporated Balance Sheet Beginning Balance Assets Cash $ 127,000 Accounts receivable 333,000 Inventory 570,000 Plant and equipment, net 810,000 Investment in Buisson, S.A. 408,000 Land (undeveloped) 251,000 Total assets $ 2,499,000 Liabilities and Stockholders' Equity Accounts payable $ 377,000 Long-term debt 991,000 Stockholders' equity 1,131,000 Total liabilities and stockholders' equity $ 2,499,000 $ 139,000 489,000 480,000 772,000 429,000 246,000 $ 2,555,000 $ 349,000 991, 000 1,215,000 $ 2,555,000 Joel de Paris, Incorporated Income Statement Sales $ 5,022,000 Operating expenses 4,419, 360 Net operating income 602,640 Interest and taxes: Interest expense $ 122,000 Tax expense 207,000 329,000 Net income $ 273,640 The company paid dividends of $189,640 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? 1. Average operating assets 2. Margin % 2. Turnover 2. ROI % 3. Residual income
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