Joel de Paris, Inc. Balance Sheet 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-term debt Stockholders' equity Total abilities and stockholders' equity Beginning Ending Balance Balance $ 127,800 $ 130,000 337,000 480,000 564,000 483,000 852 , 827,000 398,000 425,000 249 , 255,000 $2 ,527 , $2 ,6 , $ 37 , $ 338 , 963,000 963,000 1,188,000 1,299,000 $2,527,000 $2,600,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating Income Interest and taxes: Interest expense $125,000 Tax expense 205,000 Net income $4,500,000 4,012,800 547,200 330.000 $ 217,200 The company paid dividends of $106,200 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? Required: 1. Compute the company's average operating assets for last year. 2. Compute the company's margin, turnover, and return on investment (R and "ROI" to 2 decimal places.) 3. What was the company's residual income last year? 1 $ 1,900,000 12.00% 2. Average operating assets Margin Turnover ROI % 3 Residual income