C Financial data for Joel de Paris, Inc., for last year follow:Joel de Paris, Inc.Balance SheetAssetsCashAccounts receivableInventoryPlant and equipment, netInvestment in Buisson, S.A.Land (undeveloped)Total assetsLiabilities and Stockholders' EquityAccounts payableLong-term debtStockholders' equityTotal liabilities and stockholders' equityJoel de Paris, Inc.Income Statement.SalesOperating expensesNet operating incomeInterest and taxes:Interest expenseTax expenseNet income$ 123,000202,000$3,720,0003,199, 200520,800325,000$ 195,800BeginningBalanceEndingBalance$ 128,000 $ 136,000475,000342,000569,000801,000395,000253,000$ 2,488,000476,000793,000426,000254,000$ 2,560,000$ 335,000$ 381,0001,003,0001,104,0001,003,0001,222,000$2,488,000 $2,560,000The company paid dividends of $77,800 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment inthe 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 2decimal places.)3. What was the company's residual income last year?1. Average operating assets2.MarginTurnoverROIResidual income3.%%

AVERAGE OPERATING ASSETSAverage Operating Assets is Computed = (Beginning Operating Assets + Ending…

Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Assets 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, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 123,000 202,000 $3,720,000 3,199,200 520,800 $ 325,000 195,800 Beginning Balance $ 128,000 $ 136,000 475,000 476,000 342,000 569,000 801,000 395,000 253,000 $2,488,000 Ending Balance $ 381,000 1,003,000 1,104,000 $ 2,488,000 793,000 426,000 254,000 $2,560,000 $ 335,000 1,003,000 1,222,000 $2,560,000 The company paid dividends of $77,800 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%.

Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Assets 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, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 123,000 202,000 $3,720,000 3,199,200 520,800 $ 325,000 195,800 Beginning Balance $ 128,000 $ 136,000 475,000 476,000 342,000 569,000 801,000 395,000 253,000 $2,488,000 Ending Balance $ 381,000 1,003,000 1,104,000 $ 2,488,000 793,000 426,000 254,000 $2,560,000 $ 335,000 1,003,000 1,222,000 $2,560,000 The company paid dividends of $77,800 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%.

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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