value 10.00 points Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Ending Balance Balance Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) $ 140,000 120,000 450,000 530,000 320,000 380,000 680,000 620,000 250,000 280,000 180,000 170,000 Total assets $2,020,000 $2,100,000 Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity $360,000 310,000 1,500,000 1,500,000 160,000 290,000 Total liabilities and stockholders' equity $2,020,000 $2,100,000 Joel de Paris, Inc. Income Statement Sales Operating expenses $4,050,000 3,645,000 405,000 Net operating income Interest and taxes: $150,000 Interest expense Tax expense 110,000 260,000 Net income $ 145,000