2 45 points Print Outdoor Waterworks Inc. Income Statement For Year Ended December 31, 2023 Net sales Cost of goods sold: Inventory, Dec. 31, 2022 Purchases Goods available for sale Inventory, Dec. 31, 2023 Cost of goods sold Gross profit from sales Operating expenses Operating profit Interest expense Profit before taxes Income taxes Profit Assets Cash Outdoor Waterworks Inc. Balance Sheet December 31, 2023 Current non-strategic investments Accounts receivable, net Notes receivable Inventory Prepaid expenses Plant and equipment, net Total assets Liabilities and Equity Accounts payable Accrued wages payable Income taxes payable $976,000 $ 75,860 601,840 $677,700 59,190 618,510 $357,490 274,360 Common shares, 160,000 shares Retained earnings Total liabilities and equity $ 83,130 11,500 $71,630 18,914 $ 52,716 Long-term note payable, secured by mortgage on plant $ 22,300 24,600 52,180 10,660 59,190 5,780 327,020 $501,730 $ 48,880 6,260 6,990 114,300 192,500 132,800 $501,730 < Prev 2 of 4 www BE Next >