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In: AccountingFinancial data for Joel de Paris, Inc., for last yearfollow:Joel de Paris, Inc.Balance...Financial data for Joel de Paris, Inc., for last yearfollow:Joel de Paris, Inc.Balance SheetBeginningBalanceEndingBalanceAssetsCash$126,000$137,000Accounts receivable344,000478,000Inventory571,000477,000Plant and equipment, net809,000798,000Investment in Buisson, S.A.390,000428,000Land (undeveloped)247,000250,000Total assets$2,487,000$2,568,000Liabilities and Stockholders'EquityAccounts payable$385,000$332,000Long-term debt1,035,0001,035,000Stockholders' equity1,067,0001,201,000Total liabilities and stockholders' equity$2,487,000$2,568,000Joel de Paris, Inc.Income StatementSales$4,114,000Operating expenses3,373,480Net operating income740,520Interest and taxes:Interest expense$115,000Tax expense197,000312,000Net income$428,520The company paid dividends of $294,520 last year. The “Investmentin Buisson, S.A.,” on the balance sheet represents an investment inthe stock of another company. The company's minimum required rateof return of 15%.Required:1. Compute the company's average operating assets for lastyear.2. Compute the company’s margin, turnover, and return oninvestment (ROI) for last year. (Do not round intermediatecalculations and round your final answers to 2 decimalplaces.)3. What was the company’s residual income last year?