Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc Balance Sheet Ending Balance Beginning Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A Land (undeveloped) Total assets $ 134,000 139,000 486,000 489,000 756,000 433,000 254,000 2,480,000 2,557,000 337,000 570,000 789,000 396,000 254,000 Liabilities and Stockholders Equity Accounts Long-term debt Stockholders' equity Total liabilities and stockholders' equity payable $ 385,000 331,000 1,047,000 1,048,0001,179,000 2,480,000 2,557,000 1,047,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income $ 4,810,000 4,040,400 769,600 Interest and taxes: $ 116,000 Interest expense Tax expense 204,000 320,000 $ 449,600 Net income The company paid dividends of $318,600 last year. The Investment in Buisson, SA." on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%