$2023$ financial statements of Outdoor Waterworks Inc. follow:$2201$:$30$:$47$Outdoor Waterworks Inc.Income StatementFor Year Ended December $31,2023$Net sales$11,046,008$Cost of goods sold:Inventory, Dec. $31,202279,360$Purchases$608,840$Goods available for sale$$688,200$Inventory, Dec. $31,202366,240$Cost of goods sold$627,960$Gross profit from sales$$418,040$Operating expenses$281,360$Operating profit$$136,680$Interest expense$12,200$Profit before taxes$$124,480$Income taxes$19,264$Profit$$105,216$Outdoor Waterworks Inc.Balance SheetDecember $31,2023$AssetsCashCurrent non$-$strategic investmentsAccounts receivable, netNotes receivableInventoryPrepaid expensesPlant and equipment, netTotal assetsLiabilities and EquityAccounts payableAccrued wages payableMcGrawHill$ $23,00025,44052,88811,36060,2405,920330,520$$$509,360$$ $49,1606,400<$ Prey$22$