Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Ending Balance Balance Assets Cash $ 130,000 $ 134,000 Accounts receivable Inventory 343,000 480,000 574,000 482,000 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 853,000 844,000 403,000 435,000 251,000 254,000 $ 2,554,000 $ 2,629,000 $ 378,000 $ 341,000 997,000 1,179,000 997,000 1,291,000 $2,554,000 $ 2,629,000 Sales Joel de Paris, Inc. Income Statement Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $112,000 205,000 $ 4,992,000 4,193,280 798,720 317,000 $ 481,720