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 $ 128,000 $ 127,000 338,000 480,000 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 576,000 472,000 838,000 841,000 399,000 432,000 254,000 248,000 $2,533,000 $ 386,000 $ $2,600,000 341,000 1,009,000 1,138,000 1,009,000 1,250,000 $ 2,533,000 $2,600,000 Sales Joel de Paris, Inc. Income Statement Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 123,000 195,000 $ 3,990,000 3,351,600 638,400 318,000 $ 320,400