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Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc...

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Accounting

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Financial data for Joel de Paris, Inc., for last year follow: 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 $ 131,000 134,000 486,000 483,000 777,000 431,000 254,000 $ 2,480,000 2,565,000 333,000 565,000 811,000 391,000 249,000 Liabilities and Stockholders Equity Accounts payable Long-term debt Stockholders' equity $ 381,000 334,000 1,044,000 1,055,0001,187,000 1,044,000 Total liabilities and stockholders equity 2,480,00 2,565,000 Joel de Paris, Inc Income Statement Sales Operating expenses Net operating income $ 4,278,000 3,636, 300 641,700 Interest and taxes: $ 122,000 Interest expense Tax expense 202,000324,000 $ 317,700 Net income The company paid dividends of $185,700 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%

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