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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Beginning Balance 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 $ 135,000 342,000 571,000 802,000 391,000 248,000 $ 2,489,000 $ 378,000 971,000 1,140,000 $ 2,489,000 Ending Balance $ 135,000 470,000 486,000 799,000 426,000 249,000 $ 2,565,000 $ 339,000 971,000 1,255,000 $ 2,565,000 Joel de Paris, Incorporated Income Statement Sales $ 4,488,000 Operating expenses Net operating income 3,904,560 583,440 Interest and taxes: $ 116,000 208,000 324,000 $ 259,440 Interest expense Tax expense Net income The company paid dividends of $144,440 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. (Do not round intermediate calculations and 13 Linall

Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Beginning Balance 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 $ 135,000 342,000 571,000 802,000 391,000 248,000 $ 2,489,000 $ 378,000 971,000 1,140,000 $ 2,489,000 Ending Balance $ 135,000 470,000 486,000 799,000 426,000 249,000 $ 2,565,000 $ 339,000 971,000 1,255,000 $ 2,565,000 Joel de Paris, Incorporated Income Statement Sales $ 4,488,000 Operating expenses Net operating income 3,904,560 583,440 Interest and taxes: $ 116,000 208,000 324,000 $ 259,440 Interest expense Tax expense Net income The company paid dividends of $144,440 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. (Do not round intermediate calculations and 13 Linall

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
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Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Beginning Balance 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 $ 135,000 342,000 571,000 802,000 391,000 248,000 $ 2,489,000 $ 378,000 971,000 1,140,000 $ 2,489,000 Ending Balance $ 135,000 470,000 486,000 799,000 426,000 249,000 $ 2,565,000 $ 339,000 971,000 1,255,000 $ 2,565,000 Joel de Paris, Incorporated Income Statement Sales $ 4,488,000 Operating expenses Net operating income 3,904,560 583,440 Interest and taxes: $ 116,000 208,000 324,000 $ 259,440 Interest expense Tax expense Net income The company paid dividends of $144,440 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. (Do not round intermediate calculations and 13 Linall
Transcribed Image Text:Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Beginning Balance 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 $ 135,000 342,000 571,000 802,000 391,000 248,000 $ 2,489,000 $ 378,000 971,000 1,140,000 $ 2,489,000 Ending Balance $ 135,000 470,000 486,000 799,000 426,000 249,000 $ 2,565,000 $ 339,000 971,000 1,255,000 $ 2,565,000 Joel de Paris, Incorporated Income Statement Sales $ 4,488,000 Operating expenses Net operating income 3,904,560 583,440 Interest and taxes: $ 116,000 208,000 324,000 $ 259,440 Interest expense Tax expense Net income The company paid dividends of $144,440 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. (Do not round intermediate calculations and 13 Linall
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