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 $ 134,000 341,000 578,000 807,000 393,000 245,000 $ 2,498,000 $ 140,000 479,000 487,000 794,000 433,000 249,000 $2,582,000 $ 389,000 1,028,000 1,081,000 $ 2,498,000 $ 332,000 1,028,000 1,222,000 $2,582,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 117,000 Tax expense 202,000 Net income $ 5,076,000 4,365,360 710,640 319,000 391,640 $ The company paid dividends of $250,640 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. (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. Average operating assets Margin Tumover ROI Residual income % 3