QUESTION 1:

QUESTION 2:

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 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Total liabilities and stockholders' equity $ 129,000 134,000 484,000 472,000 850,000 434,000 246,000 $ 2,542,000 2,620,000 332,000 562,000 877,000 393,000 249,000 $ 377,000 1,020,000 1,145,000 $ 2,542,000 342,000 1,020,000 1,258,000 $ 2,620,000