Information from the financial statements Marble Patch, Inc. for last year are shown below. Statement of Financial Position Beginning Balance Ending Balance Assets: Cash Accounts receivable Inventory Plant and equipment (net) Long-Term Investment Land (held for future use) Total assets Liabilities and owners' equity: Accounts payable Long-term debt Stockholders' equity Total liabilities and owners' equity $335,000 210,000 296,000 508,000 229,000 $ 471,760 176,000 264,000 460,000 295,000 182,000 182,000 $1,760,000 $ 190,000 $ 1,848,760 833,000 737,000 $ 235,000 833,000 780,760 $1,760,000 $ 1,848,760 Income Statement Sales Less operating expenses Net operating income Less interest and taxes: Interest expense Tax expense Net income $2,050,000 1,517,000 533,000 $ 96,700 202,540 299,240 $233,760 Last year, Marble Patch, Inc. paid dividends of $190,000. The "Long-Term Investments" on the corporation's statement of financial position represents an investment in the stock of another company Required: a. Compute Marble Patch, Inc's margin, turnover, and return on investment for last year. b. Marble Patch Inc. desires a minimum required return of 35%. What was the corporation's residual income last year? Complete this question by entering your answers in the tabs below. Required A Required B Compute Marble Patch, Inc.'s margin, turnover, and return on investment for last year. (Round your Percentage and Turnover answers to two decimal places.) Margin Turnover 26.00% 1.51 Return on investment 39.26%