Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost information relating to the products follow: Product Selling price per unit Weedban $ 11.00 Greengrow $ 39.00 $ 2.80 Traceable fixed expenses per year $ 134,000 $ 12.00 $ 30,000 Variable expenses per unit Last year the company produced and sold 45,000 units of Weedban and 16,500 units of Greengrow. Its annual common fixed expenses are $107,000. Required: Prepare a contribution format income statement segmented by product lines. Product Line Total Company Weedban Greengrow Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Beginning Balance $ 126,000 341,000 564,000 829,000 397,000 250,000 Ending Balance $ 133,000 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 Joel de Paris, Incorporated $ 2,507,000 $ 382,000 954,000 1,171,000 $ 2,507,000 472,000 486,000 809,000 428,000 248,000 $ 2,576,000 $ 350,000 954,000 1,272,000 $ 2,576,000 Income Statement Sales Operating expenses Interest and taxes: Net operating income Interest expense Tax expense Net income $ 117,000 191,000 $ 3,948,000 3,434,760 513,240 308,000 $ 205,240 The company paid dividends of $104,240 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 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. Note: Round "Margin", "Turnover" and "ROI" to 2 decimal places. 3. What was the company's residual income last year? 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 Joel de Paris, Incorporated 829,000 397,000 250,000 $ 2,507,000 $ 382,000 954,000 1,171,000 809,000 428,000 248,000 $ 2,576,000 $ 350,000 954,000 1,272,000 $ 2,507,000 $ 2,576,000 Income Statement Sales Operating expenses $ 3,948,000 3,434,760 Net operating income 513,240 Interest and taxes: $ 117,000 191,000 308,000 $ 205,240 Interest expense Tax expense Net income The company paid dividends of $104,240 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 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. Note: Round "Margin", "Turnover" and "ROI" to 2 decimal places. 3. What was the company's residual income last year? 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income % %