Joel de Paris, Inc.Balance SheetBeginningBalance$EndingBalance.AssetsCash135,000 $ 140,000Accounts receivableInventory338,000.476,000579,000483,000Plant and equipment, net868,000861,000Investment in Buisson, S.A.Land (undeveloped)408,000426,000254,000249,000Total assets$2,582,000$ 2,635,000Liabilities and Stockholders' EquityAccounts payableLong-term debt$ 370,000$ 340,000Stockholders' equity960,0001,252,000960,0001,335,000Total liabilities and stockholders' equity$ 2,582,000$ 2,635,000AJoel de Paris, Inc.Income StatementSales$4,074,0003,503,640570,360Operating expensesNet operating incomeInterest and taxes:Interest expense$ 126,000203,000Tax expense329,000Net income$ 241,360The company paid dividends of $158,360 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investmentin the stock of another company. The company's minimum required rate of return of 15%. The company paid dividends of $158,360 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investmentin the stock of another company. The company's minimum required rate of return of 15%.eBookRequired:Print1. Compute the company's average operating assets for last year.References2. Compute the company's margin, turnover, and return on investment (ROI) for last year. (Do not round intermediate calculations andround your final answers to 2 decimal places.)3. What was the company's residual income last year?1. Average operating assets2.Margin%Turnover%ROI3.Residual income

Name: Joel de Paris, Inc.Balance SheetBeginningBalance$EndingBalance.Assets
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Description: Joel de Paris, Inc.Balance SheetBeginningBalance$EndingBalance.AssetsCash135,000 $ 140,000Accounts receivableInventory338,000.476,000579,000483,000Plant and equipment, net868,000861,000Investment in Buisson, S.A.Land (undeveloped)408,000426,000254,0

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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. (Do not round intermediate calculations and round your final answers to 2 decimal places.) 3. What was the company's residual income last year? 1. Average operating assets 2. Margin % Turnover ROI % 3. Residual income

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. (Do not round intermediate calculations and round your final answers to 2 decimal places.) 3. What was the company's residual income last year? 1. Average operating assets 2. Margin % Turnover ROI % 3. Residual income

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

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