Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Beginning Balance Ending Balance $ 131,000 347,000 560,000 $ 133,000 484,000 487,000 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 832,000 407,000 245,000 $ 2,522,000 $ 382,000 1,011,000 1,129,000 $ 2,522,000 806,000 434,000 252,000 $ 2,596,000 $ 339,000 1,011,000 1,246,000 $ 2,596,000 Joel de Paris, Incorporated Income Statement Sales Operating expenses Interest and taxes: Net operating income Interest expense Tax expense Net income $ 127,000 208,000 $ 4,536,000 3,855,600 680,400 335,000 $ 345,400 The company paid dividends of $228,400 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%. Required.