Financial data for Joel de Paris, Inc., for last year follow:

Joel de Paris, Inc. Balance Sheet
	Beginning Balance		Ending Balance
Assets
Cash	$	140,000	$	120,000
Accounts receivable		450,000		530,000
Inventory		320,000		380,000
Plant and equipment, net		680,000		620,000
Investment in Buisson, S.A.		250,000		280,000
Land (undeveloped)		180,000		170,000
Total assets	$	2,020,000	$	2,100,000
Liabilities and Stockholders' Equity
Accounts payable	$	360,000	$	310,000
Long-term debt		1,500,000		1,500,000
Stockholders' equity		160,000		290,000
Total liabilities and stockholders' equity	$	2,020,000	$	2,100,000