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) $ 131,000 $ 138,000 347,000 472,000 471,000 799,000 431,000 251,000 576,000 786,000 394,000 247,000 Total assets $2,481,000 $2,562,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity $ 378,000 $ 339,000 1,026,000 1,026,000 1,077,000 1,197,000 Total liabilities and stockholders' equity $2,481,000 $2,562,000 Joel de Paris, Ind Income Statement Sales Operating expenses $ 3,906,000 3,281,040 624,960 Net operating income Interest and taxes $115,000 Interest expense Tax expense 195,000 310,000 Net income $ 314,960 The company paid dividends of $194,960 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company