Joel de Paris, Incorporated Balance Sheet Beginning Balance Ending 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 Joel de Paris, Incorporated Income Statement $ 133,000 $ 136,000 340,000 472,000 573,000 483,000 804,000 799,000 409,000 429,000 247,000 249,000 $ 2,506,000 $ 374,000 1,044,000 1,088,000 $ 2,568,000. $ 331,000 1,044,000 1,193,000 $ 2,506,000 $ 2,568,000 Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense $ 130,000 202,000 $ 4,675,000 4,114,000 561,000 332,000 Net income $ 229,000 The company paid dividends of $124,000 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 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. Note: Round "Margin", "Turnover" and "ROI" to 2 decimal places. 3. What was the company's residual income last year?

Joel de Paris, Incorporated Balance Sheet Beginning Balance Ending 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 Joel de Paris, Incorporated Income Statement $ 133,000 $ 136,000 340,000 472,000 573,000 483,000 804,000 799,000 409,000 429,000 247,000 249,000 $ 2,506,000 $ 374,000 1,044,000 1,088,000 $ 2,568,000. $ 331,000 1,044,000 1,193,000 $ 2,506,000 $ 2,568,000 Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense $ 130,000 202,000 $ 4,675,000 4,114,000 561,000 332,000 Net income $ 229,000 The company paid dividends of $124,000 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 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. Note: Round "Margin", "Turnover" and "ROI" to 2 decimal places. 3. What was the company's residual income last year?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 5CE

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