Financial data for Joel de Paris, Incorporated, for last year follow Joel de Parks, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, 5.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Sales Joel de Paris, Incorporated Income Statement Operating expenses Net operating income Interest expense Interest and taxes: Tax expense Net income $ 4,158,000 3,451,140 706,860 $113,000 210,000 323,000 $ 383,860 Beginning Balance $ 131,000 331,000 569,000 839,000 408,000 Ending Salance $126,000 482,000 487,000 815,000 429,000 253,000 $ 2,531,000 245,000 $ 2,584,000 $334,000 963,000 1,267,000 $381,000 983,000 1,167,000 $ 2,531,000 $ 2,584,000 The company paid dividends of $283,860 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%