Financial data for Joel de Paris, Inc., for last year follow:Joel de Paris, Inc. Balance Sheet Beginning Balance Ending BalanceAssets Cash $ 139,000 $ 127,000 Accounts receivable 343,000 485,000Inventory 565,000 485,000 Plant and equipment, net 863,000 853,000Investment in Buisson, S.A. 395,000 434,000 Land (undeveloped)253,000 252,000 Total assets $ 2,558,000 $ 2,636,000 Liabilitiesand Stockholders' Equity Accounts payable $ 378,000 $ 338,000Long-term debt 967,000 967,000 Stockholders' equity 1,213,0001,331,000 Total liabilities and stockholders' equity $ 2,558,000 $2,636,000 Joel de Paris, Inc. Income Statement Sales $ 4,439,000Operating expenses 3,861,930 Net operating income 577,070 Interestand taxes: Interest expense $ 114,000 Tax expense 196,000 310,000Net income $ 267,070 The company paid dividends of $149,070 lastyear. The “Investment in Buisson, S.A.,” on the balance sheetrepresents an investment in the stock of another company. Thecompany'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. (Round "Margin", "Turnover" and "ROI" to 2decimal places.) 3. What was the company’s residual income lastyear?
