Financial data for Joel de Paris, Inc., for last year follow. Joel de Paris, Inc. Balance Sheet Beginning Ending BalanceBalance Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) $ 127,000 $ 129,000 478,000 480,000 803,000 426,000 246,000 254,000 343,000 571,000 809,000 397,000 Total assets $2,493,000 $2,570,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity $ 374,000 $ 348,000 983,000 1,136,000 1,239,000 983,000 Total liabilities and stockholders' equity2,493,000 $2,570,000 Joel de Paris, Inc. Income Statement Sales Operating expenses $ 4,862,000 4,084,080 777,920 Net operating income Interest and taxes Interest expense Tax expense 122,000 199,000 321,000 Net income $ 456,920 The company paid dividends of $353,920 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company