Accounting

The 2020 financial statements of Outdoor Waterworks Inc. follow: Outdoor Waterworks Inc. Income Statement For Year Ended December 31, 2020 Net sales.... $966.000 Cost of goods sold: Inventory, Dec. 31, 2019..... $ 75,360 Purchases...... 600.840 Goods available for sale... $676.200 Inventory, Dec. 31, 2020... 59.040 Cost of goods sold.. 617.160 Gross profit from sales....... $348.840 Operating expenses....mmm..mun 273.360 Operating profit.. $ 75.480 Interest expense........ 11.400 Profit before taxes....... $ 64.080 Income taxes......... 18.864 Profit........ $ 45.216