Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance 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 liabilities and stockholders' equity $ 132,000 333,000 569,000 866,000 401,000 250,000 $ 2,551,000 $ 139,000 478,000 473,000 850,000 429,000 249,000 $ 2,618,000 $ $ 373,000 1,040,000 1,138,000 $ 2,551,000 335,000 1,040,000 1,243,000 $ 2,618,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 116,000 Tax expense 201,000 Net income $ 5,376,000 4,677, 120 698,880 317,000 381,880 $ The company paid dividends of $276,880 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. 2. Average operating assets Margin Turnover % ROI % 3. Residual income