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CoursHeroTranscribedText: Problem 11-17 (Algo) Return on Investment (ROI) and Residual Income [LO11-1, LO11-2] Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Ending Balance Balance Assets Cash 139,060 130,080 Accounts receivable 338, 060 479,080 Inventory 571,300 484,080 Plant and equipment, net 792,008 787,900 Investment in Buisson, S.A. 396,090 434,900 Land (undeveloped) 251,908 248.900 Total assets $ 2, 489,068 $ 2,562,030 Liabilities and Stockholders' Equity Accounts payable 374,808 $ 342,080 Long-term debt 1, 803,808 1,803,080 Stockholders' equity 1, 112,808 1, 217,808 Total liabilities and stockholders' equity $ 2,489,090 $ 2,562,900 Joel de Paris, Inc. Income Statement Sales $ 4,464,090 Operating expenses 3,839, 240 Net operating income 624,960 Interest and taxes: Interest expense $ 114,800 Tax expense 209,906 323,090 Net income S 301,960 The company paid dividends of $196,960 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 (ROD) for last year. (Round "Margin", "Turnover" and "ROI" to 2 decimal places.) 3. What was the company's residual income last year? Average operating assets 2 Margin Turnover ROI 3. Residual income

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