The $2023$ financial statements of Outdoor Waterworks Inc. follow:

Outdoor Waterworks Inc.

Income Statement

For Year Ended December $31,2023$

Net sales $ $1,156,000$

Cost of goods sold:

Inventory, Dec. $31,2022$ $ $84,860$

Purchases $619,840$

Goods available for sale $ $704,700$

Inventory, Dec. $31,202361,890$

Cost of goods sold $642,810$

Gross profit from sales $ $513,190$

Operating expenses $292,360$

Operating profit $ $220,830$

Interest expense $13,300$

Profit before taxes $ $207,530$

Income taxes $19,814$

Profit $ $187,716$

Outdoor Waterworks Inc.

Balance Sheet

December $31,2023$

Assets

Cash $ $24,100$

Current non$-$strategic investments $26,760$

Accounts receivable, net $53,980$

Notes receivable $12,460$

Inventory $61,890$

Prepaid expenses $6,140$

Plant and equipment, net $336,020$

Total assets $ $521,350$

Liabilities and Equity

Accounts payable $ $49,600$

Accrued wages payable $6,620$

Income taxes payable $7,530$

Long$-$term note payable, secured by mortgage on plant $119,700$

Common shares, $160,000$ shares $201,500$

Retained earnings $136,400$

Total liabilities and equity $ $521,350$

Assume all sales were on credit. Also assume the long$-$term note payable is due in $2026,$ with no current portion. On the December $31,2022,$ balance sheet, the assets totalled $$442,220,$ common shares were $$201,500,$ and retained earnings were $$113,340.$

Required:

Calculate the following: $($Use $365$ days in a year. Do not round your intermediate calculations. Round the answers to $2$ decimal places.$)$