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I data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cashi 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 Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income Beginning Balance $ 126,000 206,000 $ 380,000 986,000 1,144,000 Total liabilities and stockholders' equity $ 2,510,000 $ 128,000 347,000 $ 137,000 477,000 471,000 815,000 430,000 249,000 $ 2,510,000 $ 2,579,000 $ 4,512,000 3,835,200 676,800 332,000 $ 344,800 570,000 815,000 401,000 249,000 Ending Balance $ 335,000 986,000 1,258,000 $2,579,000 The company paid dividends of $230,800 last year. The "Investment in Buisson, S.A.," on the balance sheet represe investment in the stock of another company. The company's minimum SEO

I data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cashi 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 Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income Beginning Balance $ 126,000 206,000 $ 380,000 986,000 1,144,000 Total liabilities and stockholders' equity $ 2,510,000 $ 128,000 347,000 $ 137,000 477,000 471,000 815,000 430,000 249,000 $ 2,510,000 $ 2,579,000 $ 4,512,000 3,835,200 676,800 332,000 $ 344,800 570,000 815,000 401,000 249,000 Ending Balance $ 335,000 986,000 1,258,000 $2,579,000 The company paid dividends of $230,800 last year. The "Investment in Buisson, S.A.," on the balance sheet represe investment in the stock of another company. The company's minimum SEO

FINANCIAL ACCOUNTING
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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1,144,000 Total liabilities and stockholders' equity $ 2,510,000 Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 126,000 206,000 1. Average operating assets 2. Margin 2. Turnover $ 4,512,000 3,835,200 676,800 2. ROI 3. Residual income 332,000 $ 344,800 The company paid dividends of $230,800 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an nvestment in the stock of another company. The company's minimum required rate of return of 15%. Required: . 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? 1,258,000 $ 2,579,000 % %
Transcribed Image Text:1,144,000 Total liabilities and stockholders' equity $ 2,510,000 Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 126,000 206,000 1. Average operating assets 2. Margin 2. Turnover $ 4,512,000 3,835,200 676,800 2. ROI 3. Residual income 332,000 $ 344,800 The company paid dividends of $230,800 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an nvestment in the stock of another company. The company's minimum required rate of return of 15%. Required: . 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? 1,258,000 $ 2,579,000 % %
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 Joel de Paris, Incorporated Income Statement $ 380,000 986,000 1,144,000 Total liabilities and stockholders' equity $ 2,510,000 Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income Beginning Balance $ 126,000 206,000 $ 128,000 347,000 570,000 815,000 401,000 249,000 $ 2,510,000 $ 4,512,000 3,835,200 676,800 332,000 $ 344,800 Ending Balance $ 137,000 477,000 471,000 815,000 430,000 249,000 $2,579,000 $ 335,000 986,000 1,258,000 $2,579,000 The company paid dividends of $230,800 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 renuired rate of return of 15%
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 Joel de Paris, Incorporated Income Statement $ 380,000 986,000 1,144,000 Total liabilities and stockholders' equity $ 2,510,000 Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income Beginning Balance $ 126,000 206,000 $ 128,000 347,000 570,000 815,000 401,000 249,000 $ 2,510,000 $ 4,512,000 3,835,200 676,800 332,000 $ 344,800 Ending Balance $ 137,000 477,000 471,000 815,000 430,000 249,000 $2,579,000 $ 335,000 986,000 1,258,000 $2,579,000 The company paid dividends of $230,800 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 renuired rate of return of 15%
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