LIABILITIES AND STOCKHOLDERS' EQUITY RETAINED EARNINGS - BEGINNING $1,924,440$258,340 NET INCOME 392,5811,840,783 LESS: DIVIDENDS RETAINED EARNINGS - ENDING $$$1,590,691 Administrative Expenses Officers' salaries 2022 2021 Beginning inventory $68,000$364,600 Purchases 46,327,21840,154,183 Freight and shipping Cost of goods available for sale Less: Ending inventory Total cost of goods sold CASH FLOWS FROM OPERATING ACTIVITIES Net income Adjustments to reconcile net income to cash flows from operating activities: CASH FLOWS FROM INVESTING ACTIVITIES Property \& equipment purchases Cash flows used by investing activities CASH FLOWS FROM FINANCING ACTIVITIES New borrowings on line of credit Principal payments in excess of new borrowings Dividends paid Cash flows provided (used) by financing activities NET INCREASE (DECREASE) IN CASH AND 461,855 CASH EQUIVALENTS CASH AND CASH EQUIVALENTS - BEGINNING CASH AND CASH EQUIVALENTS - ENDING