Value 10.00 points Problem 12-5 Computing ROI and RI (LO2 CCA, 6) Financial data for Joel de Paris Inc. for last year follow: JOEL DE PARIS INC Balance Sheet Ending Beginning Balance Balance Assets 175,000 262,500 Cash Accounts receivable 525,000 612,500 Inventory 350,000 350,000 525,000 Plant and equipment, net 700,000 303,000 Investment in Buisson, S.A. 272,000 Land (undeveloped) 184,000 196,000 Total assets $2,237,000 $2,218,000 Liabilities and Shareholders' Equity Accounts payable 380,200 408,400 1,520,800 1,633,600 Long-term debt 176,000 Shareholders' equity 336,000 Total liabilities and shareholders' equity $2,237,000 $2,218,000 JOEL DE PARIS INC Income Statement Sales $4,900,000 4,410,000 Less: Operating expenses Net operating income 490,000 Less: Interest and taxes: $181,000 Interest expense 133,000 314,000 Tax expense 176,000 Net income