Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Assets Cash Accounts receivable Inventory Plant and equipment, net Balance Sheet Beginning Balance Ending Balance $ 133,000 $ 135,000 343,000 484,000 575,000 479,000 789,000 782,000 398,000 435,000 248,000 254,000 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 $ 2,486,000 $ 372,000 1,010,000 1,104,000 $ 2,486,000 $ 2,569,000 $ 333,000 1,010,000 1,226,000 $ 2,569,000 Sales Joel de Paris, Incorporated Income Statement Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 122,000 204,000 $ 4,836,000 4,158,960 677,040 326,000 $ 351,040