Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, 5.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity 134,000 349,900 573,000 804,000 390,000 254,800 $ 2,504,000 $ 133,88 471,000 478,000 818,000 434,000 251,000 $ 2,589,000 $ 371,000 984,000 1,149,000 $ 2,504,000 $ 333,000 984,800 1,268,000 $ 2,585,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 116,000 Tax expense 196,000 Net income $ 4,136,000 3,515,600 620,400 312,000 388,400 $ Net Income 312,000 Jon, 400 $ The company paid dividends of $189,400 last year. The "Investment in Buisson SA 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 (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 2 Average operating assets Margin Turnover ROI Residual income % 3