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 $ 126,000 348,000 578,000 858,000 400,000 246,000 $ 2,556,000 $ 133,000 474,000 477,000 866,000 434,000 255,000 $ 2,639,000 $ 373,000 1,009,000 1,174,000 $ 2,556,000 $ 341,000 1,009,000 1,289,000 $ 2,639,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 121,000 Tax expense 194,000 Net income $ 4,246,000 3,694,020 551,980 315,000 236,980 $ The company paid dividends of $121,980 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 Residual income % 3