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 $ 139,000 343,000 563,000 845,000 392,000 251,000 $ 2,533,000 $ 128,000 482,000 480,000 840,000 427,000 249,000 $ 2,606,000 $ 375,000 989,000 1,169,000 $ 2,533,000 $ 348,000 989,000 1,269,000 $ 2,606,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 124,000 Tax expense 195,000 Net income $ 4,393,000 3,602,260 790, 740 319,000 471, 740 $ The company paid dividends of $371,740 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 2. % Turnover ROI % 3. Residual income