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I need help to solve for residual income Financial data for Joel de Paris, Inc., for last year follow: Ending Balance Joel de Paris, Inc.

I need help to solve for residual income
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Financial data for Joel de Paris, Inc., for last year follow: Ending Balance Joel de Paris, Inc. Balance Sheet Beginning Balance Assets Cash $ 130,000 Accounts receivable 345,000 Inventory 578,000 Plant and equipment, net 787,000 Investment in Buisson, S.A. 391,000 Land (undeveloped) 251,000 Total assets $2,482,000 Liabilities and Stockholders' Equity Accounts payable $ 380,000 Long-term debt 1,049,000 Stockholders' equity 1,053,000 Total liabilities and stockholders' $2,482,000 equity $ 128,000 474,000 477,000 801,000 430,000 252,000 $2,562,000 $ 340,000 1,949,000 1,173,000 $2,562,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $123,800 Tax expense 193,600 Net income $4,836,000 4,207,320 628,680 316,800 312,689 $ The company paid dividends of $192,680 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% 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? 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? Answer is complete but not entirely correct. Average operating assets Margin Turnover ROI Residual income $ 1,860,000 13.00 2.60 33.80 $ 30,680 %

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