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Problem 10-15 Return on Investment (ROI) and Residual Income [LO10-1, LO Flnancial data for Joel...

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Accounting

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Problem 10-15 Return on Investment (ROI) and Residual Income [LO10-1, LO Flnancial data for Joel de Paris, Inc., for last year follow Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable s 138,000 129,000 337,000 568,000 787,000 402,000 249,000 486,000 484,000 771,000 429,000 247,000 s2,481,000 2,546,000 s384,000 331,000 991,000 Long-term debt 991,000 Stockholders' equity Total liabilities and stockholders' equity 1 106,000 1,224,000 s 2,481,000 2,546,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes 4,070 000 3,581,600 488,400 Interest expenses 124,000 Tax expense 318,000 Net income S 170,400 FI OD F4 F3 FS 8

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