Problem 10-15 Return on Investment (ROI) and Resldual 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) $ 139,000 332,000 573,000 816,000 405,000 250,000 $ 130,000 487,eee 480,000 803,080 434,e00 249,000 Total assets $2,515,000 $2,583,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders S 337,000 1,003,eee 1,243,000 382,00e 1,003,000 1,130,000 $2,515,000 $2,583,000 equity Joel de Paris, Inc. Income Statement $4,512,000 3,925,440 Sales Operating expenses Net operating incone 586, 560 Interest and taxes: $129,080 204,000 Interest expense xpens 333,e00 $ 253,560 Net income The company paid dividends of $140.560 last vear. 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 (ROD for last year. (Do not round Intermedlate calculations and round your final answers to 2 decimal places.) 3. What was the company's residual income last year? Average opernting assets 1 % Margin 2 Tumover ROI Residual income 3