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 Buisson, S.A. Land (undeveloped) Total assets 479,000 482,000 863,000 427,000 254,000 $ 2,568,000 2,641,000 $ 135,000 136,000 343,000 560,000 882,000 402,000 246,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders equity Total liabilities and stockholders'equity $ 383,000 $331,000 1,049,000 1,261,000 1,049,000 1,136,000 2,568,000 2,641,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: $4,850,000 3,977,000 873,000 Interest expense Tax expense 119,000 193,000312,000 Net income $ 561,000