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Financial data for Joel de Paris, Incorporated, for last year follow:

The company paid dividends of $$144,440$ 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:

Compute the company's average operating assets for last year.

Compute the company's margin, turnover, and return on investment $($ROI$)$ for last year. $($Do not round intermediate calculations andProblem $10-15($Algo$)$ Return on Investment $($ROI$)$ and Residual Income $[$LO$10-1,$ LO$10-2]$

Financial data for Joel de Paris, Incorporated, for last year follow:

Joel de Paris, Incorporated

Balance Sheet

Beginning Balance Ending Balance

Assets

Cash $ $135,000$ $ $135,000$

Accounts receivable $342,000470,000$

Inventory $571,000486,000$

Plant and equipment, net $802,000799,000$

Investment in Buisson, S$.$A$.391,000426,000$

Land $($undeveloped$)248,000249,000$

Total assets $ $2,489,000$ $ $2,565,000$

Liabilities and Stockholders' Equity

Accounts payable $ $378,000$ $ $339,000$

Long$-$term debt $971,000971,000$

Stockholders' equity $1,140,0001,255,000$

Total liabilities and stockholders' equity $ $2,489,000$ $ $2,565,000$

Joel de Paris, Incorporated

Income Statement

Sales $ $4,488,000$

Operating expenses $3,904,560$

Net operating income $583,440$

Interest and taxes:

Interest expense $ $116,000$

Tax expense $208,000324,000$

Net income $ $259,440$

The company paid dividends of $$144,440$ last year. The $$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?

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