CashAccounts receivableInventoryPlant and equipment, netInvestment in Buisson, S.A.Land (undeveloped)Total assetsLiabilities and Stockholders' EquityAccounts payableLong-term debtStockholders' equity$ 331,0001,014,0001,298,000Total liabilities and stockholders' equity $ 2,570,000 $ 2,643,000Joel de Paris, IncorporatedIncome StatementSalesOperating expensesNet operating incomeInterest and taxes:Interest expenseTax expenseNet income$ 134,000344,000561,000881,000404,000246,000$ 2,570,000$ 130,000204,000$ 4,850,0004,171,000679,000334,000$ 345,000$ 131,000475,000485,000869,000431,000252,000$ 2,643,000$ 374,0001,014,0001, 182,000The company paid dividends of $229,000 last year. The "Investment in Buisson, S.A.," on thebalance sheet represents an investment in the stock of another company. The company'sminimum 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 2 decimal places.)3. What was the company's residual income last year?

Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 130,000 204,000 $ 134,000 344,000 561,000 881,000 404,000 246,000 $ 2,570,000 $ 4,850,000 4,171,000 679,000 $ 131,000 475,000 485,000 869,000 $ 374,000 1,014,000 1,182,000 $ 2,570,000 $ 2,643,000 334,000 $ 345,000 431,000 252,000 $ 2,643,000 $ 331,000 1,014,000 1,298,000 The company paid dividends of $229,000 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. (Round "Margin", "Turnover" and "ROI" to 2 decimal places.) 3. What was the company's residual income last year?

Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 130,000 204,000 $ 134,000 344,000 561,000 881,000 404,000 246,000 $ 2,570,000 $ 4,850,000 4,171,000 679,000 $ 131,000 475,000 485,000 869,000 $ 374,000 1,014,000 1,182,000 $ 2,570,000 $ 2,643,000 334,000 $ 345,000 431,000 252,000 $ 2,643,000 $ 331,000 1,014,000 1,298,000 The company paid dividends of $229,000 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. (Round "Margin", "Turnover" and "ROI" to 2 decimal places.) 3. What was the company's residual income last year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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