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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated 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, Incorporated Incone Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net Income 122,000 200,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income Beginning Balance 570,000 880,000 394,000 252,000 $ 2,566,000 $ 5,238,000 4,452,300 785,700 $ 139,000 331,000 $ 384,000 992,000 1,190,000 $ 2,566,000 322,000 $ 463,700 % Ending Balance $ 128,000 475,000 483,000 874,000 426,000 255,000 $ 2,641,000 The company paid dividends of $337,700 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%. $333,000 992,000 1,316,000 $ 2,641,000 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 data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated 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, Incorporated Incone Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net Income 122,000 200,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income Beginning Balance 570,000 880,000 394,000 252,000 $ 2,566,000 $ 5,238,000 4,452,300 785,700 $ 139,000 331,000 $ 384,000 992,000 1,190,000 $ 2,566,000 322,000 $ 463,700 % Ending Balance $ 128,000 475,000 483,000 874,000 426,000 255,000 $ 2,641,000 The company paid dividends of $337,700 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%. $333,000 992,000 1,316,000 $ 2,641,000 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?

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
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Problem 20BEA: The income statement, statement of retained earnings, and balance sheet for Somerville Company are...
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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated 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, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income 1. Average operating assets 2. Margin 2. Turnover ROI $ 122,000 200,000 2. 3. Residual income Beginning Balance $ 139,000 331,000 570,000 880,000 394,000 252,000 $ 2,566,000 $ 5,238,000 4,452,300 785,700 $ 384,000 992,000 1,190,000 322,000 $ 463,700 Ending Balance $ 128,000 475,000 483,000 $ 333,000 992,000 1,316,000 $ 2,566,000 $ 2,641,000 The company paid dividends of $337,700 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%. 874,000 426,000 255,000 $ 2,641,000 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?
Transcribed Image Text:Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated 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, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income 1. Average operating assets 2. Margin 2. Turnover ROI $ 122,000 200,000 2. 3. Residual income Beginning Balance $ 139,000 331,000 570,000 880,000 394,000 252,000 $ 2,566,000 $ 5,238,000 4,452,300 785,700 $ 384,000 992,000 1,190,000 322,000 $ 463,700 Ending Balance $ 128,000 475,000 483,000 $ 333,000 992,000 1,316,000 $ 2,566,000 $ 2,641,000 The company paid dividends of $337,700 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%. 874,000 426,000 255,000 $ 2,641,000 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?
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