Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance 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 $ 129,000 S 137,000 486,000 470,000 797,000 433,000 249,000 $ 2,500,000 2,572,000 340,000 577,000 804,000 405,000 245,000 $ 386,000 S 333,000 1,022,000 1,092,0001,217,000 $ 2,500,000 2,572,000 1,022,000 Joel de Paris, Inc. Income Statement Sales Operating expenses Net operating income Interest and taxes: $ 4,114,000 3,455,760 658,240 $ 116,000 Interest expense Tax expense 202,000 318,000 $ 340,240 Net income