Problem 10-15 Return on Investment (ROI) and Residual Income [LO10-1, LO10-2] 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 recounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity 136,000 332,000 563,000 849,000 409,000 250,000 $2,539,000 134,000 471,000 477,000 838,000 434,000 249,000 $ 2,603,000 $ 377,000 991,000 1,171,000 62,539,000 $ 338,000 991,000 1,274,000 $ 2,603,000 Joel de Paris, Inc. Income Statement Selea Operating expenses Net operating income Interest and taxes interest expense $116,000 Tax expense 191.000 44,940,000 4,100,200 839, edo 307,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $116,000 Tax expense 191,000 Net income $4,940,000 4,100,200 839,800 307,000 532,800 $ The company paid dividends of $429,800 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. 2 % Average operating assets Margin Turnover ROI 96 3. Residual income