Homework Answers
Average operating assets
= [(2,517,000-247,000-410,000)+(2,585,000-254,000-431,000)]/2
= 1,880,000
.
Margin= Net operating income/Sales
= 782,080/4,888,000
= 16%
.
Turnover = Sales/Average operating assets
= 4,888,000/1,880,000
= 2.6
.
ROI = margin * turnover
= 16*2.6
= 41.6%
.
Residual income = Net operating income - Required return
= 782,080 - (1,880,000*15%)
= 500,080
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Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. 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 $ 136,000 339,000 571,000 814,000 401,000 249,000 $ 2,510,000 $ 135,000 483,000 480,000 802,000 432,000 254,000 $ 2,586,000 $ 374,000 967,000 1,169,000 $ 2,510,000 $ 335,000 967,000...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. 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 131,000 334,000 560,000 865,000 407,000 251,000 $ 2,548,000 $ 135,000 480,000 470,000 845,000 433,000 247,000 $ 2,610,000 $ 383,000 973,000 1,192,000 $ 2,548,000 $ 332,000 973,000 1,305,000...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance...
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 $ 139,000 Accounts receivable 344,000 486,000 Inventory 565,000 473,000 Plant and equipment, net 821,000 802,000 Investment in Buisson, S.A. 401,000 431,000 Land (undeveloped) 249,000 250,000 Total assets $ 2,510,000 $ 2,581,000 Liabilities and Stockholders' Equity Accounts payable $ 384,000 $ 346,000 Long-term debt 1,008,000 1,008,000 Stockholders' equity 1,118,000 1,227,000 Total liabilities and stockholders' equity $...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. 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 $ 127,000 338,000 569,000 866,000 391,000 253,000 $ 2,544,000 $ 130,000 483,000 480,000 847,000 435,000 249,000 $2,624,000 $ 379,000 1,007,000 1,158,000 $ 2,544,000 $ 348,000 1,007,000 1,269,000...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc Balance...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc Balance Sheet Beginning Ending Balance Balance Assets 133,000 483,000 489,000 835,000 435,000 254,000 Cash 131,000 Accounts receivable 349,000 Inventory 562,000 858,000 401,000 250,000 Plant and equipment, net Investment in Buisson, S.A Land (undeveloped) 2,551,000 $ 2,629,000 Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity 371,000 1,036,000 337,000 1,036,000 1,256,000 1,144,000 $ 2,551,000 $ 2,629,000 Total liabilities and stockholders' equity Joel de...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. 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 128,000 332,000 574,000 826,000 404,000 252,000 2,516,000 130,000 475,000 489,000 806,000 426,000 248,000 2,574,000 $ $ $ 376,000 956,000 1,184,000 $ 2,516,000 $ 344,000 956,000...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance...
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance Sheet
Beginning
Balance
Ending
Balance
Assets
Cash
$
126,000
$
126,000
Accounts receivable
331,000
473,000
Inventory
568,000
482,000
Plant and equipment, net
875,000
859,000
Investment in Buisson, S.A.
396,000
427,000
Land (undeveloped)
247,000
245,000
Total assets
$
2,543,000
$
2,612,000
Liabilities and Stockholders'
Equity
Accounts payable
$
388,000
$
348,000
Long-term debt
1,002,000
1,002,000
Stockholders' equity
1,153,000
1,262,000
Total liabilities and stockholders' equity
$...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. 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 $ 135,000 332.000 565,000 888,000 399.000 253,000 $ 2,572,000 $ 125.000 477,000 488,000 870.000 432.000 247,000 $2,639,000 $ 377.000 1,013,000 1,182,000 $ 2,572,000 $ 345.000 1.013.000 1,281,000...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance...
Financial data for Joel de Paris, Inc., for last year follow:
Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance
Assets Cash $ 137,000 $ 128,000 Accounts receivable 334,000 480,000
Inventory 578,000 480,000 Plant and equipment, net 881,000 882,000
Investment in Buisson, S.A. 398,000 430,000 Land (undeveloped)
247,000 252,000 Total assets $ 2,575,000 $ 2,652,000 Liabilities
and Stockholders' Equity Accounts payable $ 384,000 $ 340,000
Long-term debt 984,000 984,000 Stockholders' equity 1,207,000
1,328,000 Total liabilities and stockholders' equity $...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance...
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance Sheet
Beginning
Balance
Ending
Balance
Assets
Cash
$
129,000
$
132,000
Accounts receivable
340,000
479,000
Inventory
577,000
476,000
Plant and equipment, net
794,000
793,000
Investment in Buisson, S.A.
401,000
427,000
Land (undeveloped)
255,000
249,000
Total assets
$
2,496,000
$
2,556,000
Liabilities and Stockholders'
Equity
Accounts payable
$
389,000
$
344,000
Long-term debt
971,000
971,000
Stockholders' equity
1,136,000
1,241,000
Total liabilities and stockholders' equity
$...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. 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 $ 136,000 339,000 571,000 814,000 401,000 249,000 $ 2,510,000 $ 135,000 483,000 480,000 802,000 432,000 254,000 $ 2,586,000 $ 374,000 967,000 1,169,000 $ 2,510,000 $ 335,000 967,000...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. 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 131,000 334,000 560,000 865,000 407,000 251,000 $ 2,548,000 $ 135,000 480,000 470,000 845,000 433,000 247,000 $ 2,610,000 $ 383,000 973,000 1,192,000 $ 2,548,000 $ 332,000 973,000 1,305,000...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. 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 $ 127,000 338,000 569,000 866,000 391,000 253,000 $ 2,544,000 $ 130,000 483,000 480,000 847,000 435,000 249,000 $2,624,000 $ 379,000 1,007,000 1,158,000 $ 2,544,000 $ 348,000 1,007,000 1,269,000...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc Balance Sheet Beginning Ending Balance Balance Assets 133,000 483,000 489,000 835,000 435,000 254,000 Cash 131,000 Accounts receivable 349,000 Inventory 562,000 858,000 401,000 250,000 Plant and equipment, net Investment in Buisson, S.A Land (undeveloped) 2,551,000 $ 2,629,000 Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity 371,000 1,036,000 337,000 1,036,000 1,256,000 1,144,000 $ 2,551,000 $ 2,629,000 Total liabilities and stockholders' equity Joel de...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. 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 128,000 332,000 574,000 826,000 404,000 252,000 2,516,000 130,000 475,000 489,000 806,000 426,000 248,000 2,574,000 $ $ $ 376,000 956,000 1,184,000 $ 2,516,000 $ 344,000 956,000...
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance Sheet
Beginning
Balance
Ending
Balance
Assets
Cash
$
126,000
$
126,000
Accounts receivable
331,000
473,000
Inventory
568,000
482,000
Plant and equipment, net
875,000
859,000
Investment in Buisson, S.A.
396,000
427,000
Land (undeveloped)
247,000
245,000
Total assets
$
2,543,000
$
2,612,000
Liabilities and Stockholders'
Equity
Accounts payable
$
388,000
$
348,000
Long-term debt
1,002,000
1,002,000
Stockholders' equity
1,153,000
1,262,000
Total liabilities and stockholders' equity
$...
Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. 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 $ 135,000 332.000 565,000 888,000 399.000 253,000 $ 2,572,000 $ 125.000 477,000 488,000 870.000 432.000 247,000 $2,639,000 $ 377.000 1,013,000 1,182,000 $ 2,572,000 $ 345.000 1.013.000 1,281,000...
Financial data for Joel de Paris, Inc., for last year follow:
Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance
Assets Cash $ 137,000 $ 128,000 Accounts receivable 334,000 480,000
Inventory 578,000 480,000 Plant and equipment, net 881,000 882,000
Investment in Buisson, S.A. 398,000 430,000 Land (undeveloped)
247,000 252,000 Total assets $ 2,575,000 $ 2,652,000 Liabilities
and Stockholders' Equity Accounts payable $ 384,000 $ 340,000
Long-term debt 984,000 984,000 Stockholders' equity 1,207,000
1,328,000 Total liabilities and stockholders' equity $...
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance Sheet
Beginning
Balance
Ending
Balance
Assets
Cash
$
129,000
$
132,000
Accounts receivable
340,000
479,000
Inventory
577,000
476,000
Plant and equipment, net
794,000
793,000
Investment in Buisson, S.A.
401,000
427,000
Land (undeveloped)
255,000
249,000
Total assets
$
2,496,000
$
2,556,000
Liabilities and Stockholders'
Equity
Accounts payable
$
389,000
$
344,000
Long-term debt
971,000
971,000
Stockholders' equity
1,136,000
1,241,000
Total liabilities and stockholders' equity
$...
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