Sales Cost of goods sold Callaho Inc. Income Statement For Years Ended December 31, 2023, 2022, and 2021 Gross profit from sales Operating expenses Income from operations Interest expense Income before taxes Income taxes Net income 2023 2022 $1,639,40 $1,437,70 $1,374,90 0 0 0 940,100 1,045,100 911,300 699,300 392,600 463,600 112,200 132,000 147,900 2021 587,100 260,600 315,700 4,250 3,850 4,350 582,850 256,750 311,350 144,400 36,000 70,700 $438,450 $220,750 $240,650 Callaho Inc. Balance Sheet December 31, 2023, 2022, and 2021 Assets 2023 2022 2021 Cash $64,600 $59,400 $56,800 Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Notes receivable, due in 2026 Plant assets, net 32,000 40,000 47,000 59,900 52,800 44,300 19,800 24,400 23,000 4,500 3,900 4,100 9,500 10,500 13,500 135,000 168,000 174,000 Total assets $325,300 $359,000 $362,700 Liabilities and Equity Accounts payable $38,100 $39,600 $48,000 Salaries Payable 12,100 10,900 9,900 Income taxes payable 34,450 38,750 34,550 Long-term note payable secured by mortgage on 35,000 30,000 28,000 plant assets Share capital, 100,000 shares 100,000 130,000 120,000 Retained earnings 105,650 109,750 122,250 Total liabilities and equity $ 325,300 $359,000 $362,700