Financial data for Joel de Paris, Inc., for last year follow. Joel de Paris, Ind Balance Sheet BeginningEnding Balance Balance Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A Land (undeveloped) $ 131,000 $ 139,000 481,000 483,000 777,000 434,000 245,000 341,000 571,000 797,000 394,000 250,000 lotal assets $2,484,000 $2,559,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity $ 387,000 $ 339,000 1,043,000 1,043,000 1,054,000 1,177,000 Total liabilities and stockholders' equity $2,484,000 $2,559,000 Joel de Paris, Inc. Income Statement Sales Operating expenses $ 5,208,000 4,426,800 781,200 Net operating income Interest and taxes $116,000 Interest expense lax expense 199,000 315,000 Net income $ 466,200