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 $ 140,000 134,000 471,000 470,000 845,000 433, 000 246,000 $ 2,522,000 2,599,000 334,000 567,000 839,000 391,000 251,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders equity $ 370,000 348,000 1,002,000 1,150,000 49,000 $ 2,522,000 2,599,000 1,002,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: $3,990,000 3,351,600 638,400 Interest expense Tax expense 126,000 200,000326,000 Net income $ 312,400 The company paid dividends of $213,400 last year. The Investment in Buisson, SA.." on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%