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The 2020 financial statements of Outdoor Waterworks Inc. follow:

Outdoor Waterworks Inc.
Income Statement
For Year Ended December 31, 2020
Net sales	$	1,096,000
Cost of goods sold:
Inventory, Dec. 31, 2019	$	81,860
Purchases		613,840
Goods available for sale	$	695,700
Inventory, Dec. 31, 2020		60,990
Cost of goods sold		634,710
Gross profit from sales	$	461,290
Operating expenses		286,360
Operating profit	$	174,930
Interest expense		12,700
Profit before taxes	$	162,230
Income taxes		19,514
Profit	$	142,716

Outdoor Waterworks Inc.
Balance Sheet
December 31, 2020
Assets
Cash	$	23,500
Current non-strategic investments		26,040
Accounts receivable, net		53,380
Notes receivable		11,860
Inventory		60,990
Prepaid expenses		6,020
Plant and equipment, net		333,020
Total assets	$	514,810
Liabilities and Equity
Accounts payable	$	49,360
Accrued wages payable		6,500
Income taxes payable		7,350
Long-term note payable, secured by mortgage on plant		117,900
Common shares, 160,000 shares		198,500
Retained earnings		135,200
Total liabilities and equity	$	514,810

Assume all sales were on credit. Also assume the long-term note payable is due in 2023, with no current portion. On the December 31, 2019, balance sheet, the assets totalled $439,220, common shares were $198,500, and retained earnings were $111,540. Required: Calculate the following: (Use 365 days in a year. Do not round your intermediate calculations. Round the answers to 2 decimal places.)