JEY-3434 Inc. reported the following data for last year: JEY-3434 Inc. Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Tesla Inc. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity Beginning Balance $ 125,000 346,000 Ending Balance $ 125,000 475,000 474,000 876,000 433,000 245,000 576,000 863,000 395,000 246,000 $ 2,551,000 $ 380,000 955,000 1,216,000 $ 2,551,000 $ 2,628,000 $ 344,000 955,000 1,329,000 $ 2,628,000 Sales JEY-3434 Inc. Income Statement Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $114,000 201,000 $ 5,404,000 4,431,280 972,720 315,000 $ 657,720