Problem 10-15 Return on Investment (ROI) and Residual Income (LO10-1, LC Financial data for Joel de Paris, Inc., for last year follow: 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 $ 139,000 342,000 563,000 876,000 401,600 251,000 $ 2,572,000 $ 131,000 482,000 487,000 860,000 428,000 246,000 $ 2,634,000 $ 371,000 1,007,000 1,194,000 $ 2,572,000 $ 341,000 1,007,000 1,286,000 $ 2,634,000 Soel de Paris, Inc. Income Statertent Sales $5,244,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating Income Interest and taxes: Interest expense $ 127,000 Tax expense 207, een Net income $ 5,644,620 4,287,400 756,600 334,000 422,600 $ The company paid dividends of $330,600 last year. The "Investment in Buisson, S.A." on the balance sheet represents an inves 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 round your final answers to 2 decimal places.) 3. What was the company's residual income last year? 1 2 9 Average operating stos Margin Turnover ROI Rosidual income 3