Putnam, Inc. Comparative Balance Sheets December 31, 2022 2021 Assets: Current Assets: Cash Accounts Receivable (net) Inventory Prepaid Expenses Total Current Assets Long-Term Investments Plant Assets: Property, Plant & Equipment Accumulated Depreciation Total Plant Assets Total Assets $ 1,380,000 3,120,000 3,900,000 702.000 9,102,000 450,000 $1,080,000 2,160,000 2,520,000 630,000 6,390,000 4,380,000 (900,000) 3.480,000 $13.032.000 2,880,000 (540,000) 2,340.000 $8.730.000 $2,190,000 564,000 Equities: Current Liabilities: Accounts Payable Accrued Expenses Dividends Payable Total Current Liabilities Long-Term Notes Payable Stockholders' Equity: Common Stock Retained Earnings Total Equities $ 2,550,000 618,000 402.000 3,570,000 1,650,000 2,754,000 6,000,000 1.812.000 $13.032.000 4,800,000 1.176.000 $8.730.000 Putnam, Inc. Comparative Income Statements December 31, 2022 2021 Net Credit Sales $14,040,000 $7,506,000 Cost of Goods Sold 7830.000 3.762.000 Gross Profit 6,210,000 3,744,000 Operating Expenses (including Income Tax). 5.172.000 2.748,000 Net Income $1.038.000 $996.000 Additional Information: a. Accounts receivable and accounts payable relate to merchandise held for sale in the normal course of business. The allowance for bad debts was the same at the end of 2022 and 2021, and no receivables were charged against the allowance. Accounts payable are recorded net of any discount and are always paid within the discount period. b. The proceeds from the note payable were used to finance the acquisition of property, plant, and equipment. Capital stock was sold to provide additional working capital. The amount to be shown on the cash flow statement as net cash provided by investing activities would total what amount