Financial data for Joel de Paris, Inc., for last year follow Joel de Paris, Inc. Balance Sheet Beginning Ending Balance Balance Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, SA. Land (undeveloped) $ 129,000 $ 139,000 35,000 477,000 561,000 478,000 815,000 786,000 409,000 433,000 250,000 246,000 Total assets $2,499,000 $2,559,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity $ 372,000 S 340,000 1,002,000 1,002,000 1,125,000 1,217,000 Total liabilities and stockholders' equity $2,499,000 $2,559,000 Joel de Paris, Inc. Income Statement Sales Operating expenses $4,836,000 4,158,960 677,040 Net operating income Interest and taxes 111,000 Interest expense Tax expense 99,000310,000 Net income $ 367,040