Problem 10-15 Return on Investment (ROI) and Residual Income (L010-1, LO10-2] Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning 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 132,000 338,000 560,000 850,000 397,000 255,000 $ 2,532,000 Ending Balance $ 136,000 475,000 478,000 831,000 427,000 252,000 $ 2,599,000 $ 379,000 966,000 1,187,000 $ 2,532,000 $ 340,000 966,000 1,293,000 $ 2,599,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 110,000 Tax expense 197,000 Net income $ 3,990,000 3,351,600 638,400 $ 307,000 331,400 The company paid dividends of $225,400 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?