JEY-6469 Inc. reported the following data for last year: Assets Cash JEY-6469 Inc. Balance Sheet Beginning Balance $ 129,000 341,000 Ending Balance $ 139,000 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 564,000 826,000 396,000 246,000 $ 2,502,000 473,000 482,000 806,000 426,000 254,000 $ 371,000 1,002,000 1,129,000 $ 2,580,000 $ 333,000 1,002,000 1,245,000 Total liabilities and stockholders' equity $ 2,502,000 $ 2,580,000 JEY-6469 Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: Tax expense $110,000 196,000 $ 4,324,000 3,545,680 778,320 Interest expense Net income 306,000 $472,320 JEY-6469 Inc. paid dividends of $356,320 last year. The "Investment in Tesla Inc." item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15%.