Problem 10-15 (Algo) Return on Investment (ROI) and Residual Income [LO10-1, LO10-2] Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated 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 $ 135,000 348,000 563,000 864,000 402,000 246,000 $ 2,558,000 $ 127,000 483,000 482,000 858,000 425,000 254,000 $ 2,629,000 $ 380,000 1,034,000 1,144,000 $ 2,558,000 $ 344,000 1,034,000 1,251,000 $ 2,629,000 Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 123,000 Tax expense 195,000 Net income $ 4,053,00 3,526, 110 526,890 318,000 $ 208, 890 The company paid dividends of $101,890 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 2. Margin 2. Turnover 2. ROI 3. Residual income %