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 331,000e 572,000 812,000 402,000 252,000 $ 2,494,000 $ 125,000 129,000 484,000 486,000 781,000 433,000 247,000 2,560,000 2 Liabilities and Stockholders Equity Accounts payable Long-term debt Stockholders' equity $ 382,000 350,000 999,000 1,113,0001,211,000 $. 2,494,000 2,560,000 999,000 Total liabilities and stockholders equity Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income $ 5,022,000 4,118,040 903,960 Interest and taxes: $ 115,000 Interest expense Tax expense 191,000 306,000 $597,960 Net income