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 Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity $ 129,000 331,080 567,000 893,000 394,000 255,000 $ 2,569,000 $ 132,000 483,000 477,000 868,000 432,000 253,000 $ 2,645,000 $ 385,000 978,000 1,206,000 $ 2,569,000 $ 347,000 978,000 1,320,000 $ 2,645,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense $ 127,000 Tax expense 207,000 Net income $ 4,074,000 3,340, 680 733, 320 334,000 399,320 $ The company paid dividends of $285,320 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 % 3. Residual income