d The 2023 financial statements of Outdoor Waterworks Inc. follow: 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 $1,046,000 Current non-strategic investments Accounts receivable, net Notes receivable Inventory $ 79,360 608,840 $ 688,200 60,240 627,960 $ 418,040 281,360 $ 136,680 Outdoor Waterworks Inc. Balance Sheet December 31, 2023 12,200. $ 124,480 19,264 $ 105,216 $ 23,000 25,440 52,880 11,360 60,240