Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance…

Financial data for Joel de Paris, Inc., for last year
follow:

Joel de Paris, Inc.

Balance Sheet

Beginning

Balance

Ending

Balance

Assets

Cash
$
137,000

$
140,000

Accounts receivable

337,000

480,000

Inventory

561,000

474,000

Plant and equipment, net

795,000

776,000

Investment in Buisson, S.A.

403,000

431,000

Land (undeveloped)

245,000

253,000

Total assets
$
2,478,000

$
2,554,000

Liabilities and Stockholders’
Equity

Accounts payable
$
383,000

$
346,000

Long-term debt

970,000

970,000

Stockholders’ equity

1,125,000

1,238,000

Total liabilities and stockholders’ equity
$
2,478,000

$
2,554,000

Joel de Paris, Inc.

Income Statement

Sales

$
4,625,000

Operating expenses

3,931,250

Net operating income

693,750

Interest and taxes:

Interest expense
$
114,000

Tax expense

193,000

307,000

Net income

$
386,750

The company paid dividends of $273,750 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 companys margin, turnover, and return on
investment (ROI) for last year. (Round “Margin”, “Turnover”
and “ROI” to 2 decimal places.)
3. What was the companys residual income last year?

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