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 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity $ 132,000 127,000 478,000 482,000 793,000 431,000 255,000 $ 2,489,000 2,566,000 339,000 563,000 806,000 397,000 252,000 $ 388,000 347,000 991,000 1,110,0001,228,000 $ 2,489,000 2,566,000 991,000 Joel de Paris, Inc Income Statement Sales Operating expenses Net operating income Interest and taxes: $ 5,022,000 4,168,260 853,740 S 127,000 Interest expense Tax expense 208,000335,000 $ 518,740 Net income