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 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 Beginning Balance $ 125,000 333,000 Ending Balance $ 132,000 477,000 480,000 574,000 838,000 398,000 252,000 $ 2,520,000 $ 383,000 1,013,000 1,124,000 $ 2,520,000 821,000 426,000 254,000 $ 2,590,000 $ 343,000 1,013,000 1,234,000 $ 2,590,000 Joel de Paris, Incorporated Income Statement Sales Operating expenses $ 4,158,000 3,575,880 582,120 Net operating income Interest and taxes: Interest expense Tax expense Net income $ 110,000 191,000 301,000 $ 281,120