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 $ 132,000 Ending Balance $ 137,000 489,000 334,000 565,000 486,000 819,000 778,000 399,000 429,000 253,000 248,000 $2,567,000 $ 2,502,000 $ 384,000 981,000 1,137,000 $ 2,502,000 $ 336,000 981,000 1,250,000 $ 2,567,000 Joel de Paris, Incorporated Income Statement Sales Operating expenses Interest and taxes: Net operating income Interest expense Tax expense Net income $ 4,114,000 3,414,620 699,380 $122,000 194,000 316,000 $ 383,380 The company paid dividends of $270,380 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%