Financial data for Joel de Paris, Inc., for last year follow Joel de Paris, Inc. Balance Sheet Beginning Ending Balance Balance Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A Land (undeveloped) $ 138,000 $ 136,000 484,000 478,000 862,000 427,000 251,000 344,000 571,000 867,000 407,000 251,000 Total assets $2,578,000 $2,638,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity $ 389,000 $ 335,000 989,000 1,200,000 1,314,000 989,000 Total liabilities and stockholders' equity $2,578,000 $ 2,638,000 Joel de Paris, Inc Income Statement Sales Operating expenses $ 4,462,000 3,926,560 535,440 Net operating income Interest and taxes $112,000 Interest expense lax expense 196,000 308,000 Net income $ 227,440 The company paid dividends of $113,440 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company