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 135,000 333,000 570,000 892,000 401,000 255,000 $ 2,586,000 129,000 478,000 490,000 873,000 435,000 247,000 $ 2,652,000 $ 389,000 1,004,000 1,193,000 $ 2,586,000 342,000 1,004,000 1,306,000 $ 2,652,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 112,000 Tax expense 206,000 Net income $ 4,290,000 13,560, 700 729,300 318,000 411,300 The company paid dividends of $298,300 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. Using the formula in the Chapter 11, 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 Average operating assets Margin Turnover ROL Residual income