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Category > Accounting Posted 18 Aug 2017 My Price 11.00

Joel de Paris, Inc.

Financial data for Joel de Paris, Inc., for last year follow:

Joel de Paris, Inc.
Balance Sheet
    Beginning
Balance		 Ending
Balance
Assets
  Cash $ 130,000 $ 133,000
  Accounts receivable   348,000   488,000
  Inventory   560,000   485,000
  Plant and equipment, net   822,000   794,000
  Investment in Buisson, S.A.   396,000   427,000
  Land (undeveloped)   250,000   254,000
         
  Total assets $ 2,506,000 $ 2,581,000
         
Liabilities and Stockholders' Equity
  Accounts payable $ 386,000 $ 345,000
  Long-term debt   957,000   957,000
  Stockholders' equity   1,163,000   1,279,000
         
  Total liabilities and stockholders' equity $ 2,506,000 $ 2,581,000
         
 
Joel de Paris, Inc.
Income Statement
   Sales   $ 4,136,000
   Operating expenses     3,391,520
       
   Net operating income     744,480
   Interest and taxes:      
        Interest expense $ 120,000    
        Tax expense 195,000   315,000
       
   Net income   $ 429,480

     The company paid dividends of $313,480 last year. The Ac€A?Investment in Buisson, S.A.,Ac€?? on the balance sheet represents an investment in the stock of another company.

 

Required:
1.

Compute the companyAc€?cs margin, turnover, and return on investment (ROI) for last year. (Round your answers to 2 decimal places.)

2.

The board of directors of Joel de Paris, Inc., has set a minimum required rate of return of 14%. What was the companyAc€?cs residual income last year?

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 05:08 PM My Price 11.00

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