1 Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Plant and equipment, net Inventory 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 Beginning Balance 136,000 343,000 561,000 890,000 408,000 253,000 $ 2,591,000 $ 385,000 996,000 1,210,000 $ 2,591,000 Ending Balance $ 128,000 472,000 483,000 887,000 434,000 247,000 $ 2,651,000 $ 343,000 996,000 1,312,000 $ 2,651,000 Sales Joel de Paris, Incorporated Income Statement operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 121,000 $ 4,290,000 3,603,600 686,400 200,000 321,000 $ 365,400