Financial data for Joel de Paris, Inc., for last year follow:

Joel de Paris, Inc. Balance Sheet
	Beginning Balance		Ending Balance
Assets
Cash	$	125,000	$	137,000
Accounts receivable		330,000		486,000
Inventory		579,000		490,000
Plant and equipment, net		876,000		837,000
Investment in Buisson, S.A.		391,000		431,000
Land (undeveloped)		253,000		254,000
Total assets	$	2,554,000	$	2,635,000
Liabilities and Stockholders' Equity
Accounts payable	$	373,000	$	339,000
Long-term debt		1,043,000		1,043,000
Stockholders' equity		1,138,000		1,253,000
Total liabilities and stockholders' equity	$	2,554,000	$	2,635,000

Joel de Paris, Inc. Income Statement
Sales		$	4,439,000
Operating expenses			3,684,370
Net operating income			754,630
Interest and taxes:
Interest expense	$ 118,000
Tax expense	198,000		316,000
Net income		$	438,630

The company paid dividends of $323,630 last year. The Investment in Buisson, S.A., on the balance sheet represents an investment in the stock of another company.

Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Ending Beginning Balance Balance Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) $ 125,000 $ 137,000 330,000 486,000 579,000 490,000 876,000 837,000 391,000 431,000 253,000 254,000 Total assets $2,554,000 $2,635,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity $373,000 $ 339,000 1,043,000 1,043,000 1,138,000 1,253,000 Total liabilities and stockholders' equity $2,554,000 $2,635,000 Joel de Paris, Inc. Income Statement Sales Operating expenses $ 4,439,000 3,684,370 754,630 Net operating income Interest and taxes Interest expense Tax expense 118,000 198,000 316,000 Net income $ 438,630 The company paid dividends of $323,630 last year. The "Investment in Buisson, S.A.," on the balance shee t represents an investment in the stock of another company