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 126,000 346,000 577,000 821,000 408,000 252,000 $ 2,530,000 $ 138,000 476,000 489,000 807,000 431,000 251,000 $ 2,592,000 $ 382,000 957,000 1,191,000 $ 2,530,000 339,000 957,000 1,296,000 $ 2,592,000 Joel de Paris, Inc Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 118,000 Tax expense 201,000 $ 4,914,000 4,324,320 589,680 319,000 589,60 Net operating income Interest and taxes: Interest expense Tax expense Net Income $ 118,000 201,88 $ 319,00 278,650 The company paid dividends of $165,680 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 (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 2 % Average operating assets Margin Turnover ROI Residual income % 3