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 Buisso Land (undeveloped) Total assets $125,000 135,000 480,000 490,000 835,000 428,000 254,000 $2,554,000 2,622,000 346,000 577,000 852,000 400,000 254,0002 n, S.A Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity $384,000 343,000 1,038,000 1,132,000 1,241,000 $2,554,000 2,622,000 1,038,000 Total liabilities and stockholders equity Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: $4,800,000 4.176,000 624,000 119,000 195,000314,000 Interest expense Tax expense Net income $310,000