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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

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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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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