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 $ 137,000 341,000 578, 854,000 397,000 249,000 $2,556,000 $ 138,000 476, CGC 471,000 865,000 432,000 247 , $2,629,000 $ 383,000 989,000 1,184,000 $2,556,000 $ 343,000 989,000 1, 297,000 $2,629,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 119,000 Tax expense 204 , $ 4,632,000 4,029, 840 602,160 323,000 VOZ, AVO Interest and taxes: Interest expense Tax expense Net income $ 119,900 204,000 323,000 $ 279, 100 The company paid dividends of $166,160 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. (Round "Margin", "Turnover" and "ROI" to 2 3. What was the company's residual income last year? 1 Ave operating assets 2 Turnov ROL Residual income