The 2023 financial statements of Outdoor Waterworks Inc. follow: Outdoor Waterworks Inc. Income Statement For Year Ended December 31, 2023 Net sales $ 1,056,000 Cost of goods sold: Inventory, Dec. 31, 2022 $ 79,860 Purchases 609,840 Goods available for sale $ 689,700 Inventory, Dec. 31, 2023 60,390 Cost of goods sold 629,310 Gross profit from sales $ 426,690 Operating expenses 282,360 Operating profit $ 144,330 Interest expense 12,300 Profit before taxes $ 132,030 Income taxes 19,314 Profit $ 112,716 Outdoor Waterworks Inc. Balance Sheet December 31, 2023 Assets Cash $ 23,100 Current non-strategic investments 25,560 Accounts receivable, net 52,980 Notes receivable 11,460 Inventory 60,390