CH11_HW_QA1_PIR Financial data for Joel de Paris, Inc., for last year follow:Joel de Paris, Inc.Balance SheetBeginningBalanceEndingBalanceAssetsCash137,000332,000574,000867,000391,000253,000128,000487,000470,000865,000435,000253,000$ 2,638,000Accounts receivableInventoryPlant and equipment, netInvestment in Buisson, S.A.Land (undeveloped)Total assets$ 2,554,000Liabilities and Stockholders' EquityAccounts payableLong-term debtStockholders' equity384,000980,0001,190,000$ 2,554,000344,000980,0001,314,000Total liabilities and stockholders' equity$ 2,638,000Joel de Paris, Inc.Income Statement$ 4,632,0003,890,880741,120SalesOperating expensesNet operating incomeInterest and taxes:$ 128,000198,000Interest expenseTax expense326,000Net income415,120The company paid dividends of $291,120 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?Average operating assetsMarginTurnover1.2.%ROI%3.Residual income

Average operating assets is recognized as to those assets which are required to conduct the ongoing…

Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance Assets $ 137,000 $ 128,000 332,000 574,000 867,000 391,000 253,000 $ 2,554,000 Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) 487,000 470,000 865,000 435,000 253,000 $ 2,638,000 Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity 384,000 980,000 1,190,000 $ 2,554,000 344,000 980, 000 1,314,000 $ 2,638,000 Joel de Paris, Inc. Income Statement

Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance Assets $ 137,000 $ 128,000 332,000 574,000 867,000 391,000 253,000 $ 2,554,000 Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) 487,000 470,000 865,000 435,000 253,000 $ 2,638,000 Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity 384,000 980,000 1,190,000 $ 2,554,000 344,000 980, 000 1,314,000 $ 2,638,000 Joel de Paris, Inc. Income Statement

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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