Financial data for Redstone Company for last year appear below: Ending Balance Redstone Company Statements of Financial Position Beginning Balance Assets: Cash $ 335,000 Accounts receivable 157,000 Inventory 232,000 Plant and equipment (net) 448,000 Investment in Balsam Company 268,000 Land (undeveloped) 317,000 $ 94,220 197,000 284,000 468,000 349,000 317,000 Total assets $1,757,000 $1,709,220 Liabilities and owners' equity: Accounts payable Long-term debt Owners' equity $ 157,000 812,000 788,000 $ 221,000 812,000 676,220 Total liabilities and owners' equity $1,757,000 $1,709,220 Redstone Company Income statement Sales Less operating expenses $ 2.400,000 2.136,000 264,000 Net operating income Less interest and taxes: Interest expense Tax expense $ 97,100 97,680 194,780 Net income S 69,220 The company paid dividends of $181,000 last year. The "Investment in Balsam Company" on the statement of financial position represents an investment in the stock of another company. Required: a. Compute the company's margin, turnover, and return on investment for last year. (Round your Intermediate calculations and final answers to 2 decimal places.) % Margin Turnover Return on investment % b. The Board of Directors of Redstone has set a minimum required return of 22%. What was the company's residual income last year? (Round your intermediate calculations and final answers to 2 decimal places.) Residual income