Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance Assets Canh Accounta 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 liabilities and stockholders' equity $ 135,000 343,000 577,000 785,000 391,000 253,000 $ 2,494,000 $ 131,000 480,000 472,000 797,000 434,000 248,000 $2,562,000 $ 374,000 978,000 1, 132,000 $ 2,494,000 $ 332,000 978,000 1, 252,000 $ 2,562,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 111,000 Tax expense 203,000 Net income $ 4,836,000 4,207,320 628,680 314,000 314, 680 $ The company paid dividends of $194,680 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 (RON for last year. (Do not round intermediate calculations and round your final answers to 2 decimal places.) 3. What was the company's residual income last year? 1. 2. % Average operating assets Margin Turnover ROI % 3. Residual income