The 2023 financial statements of Outdoor Waterworks Inc. follow: Outdoor Waterworks Inc. Income Statement For Year Ended December 31, 2023 Net sales Cost of goods sold: Inventory, Dec. 31, 2022 Purchases Goods available for sale Inventory, Dec. 31, 2023 Cost of goods sold Gross profit from sales Operating expenses Operating profit Interest expense Profit before taxes Income taxes Profit Outdoor Waterworks Inc. Balance Sheet December 31, 2023 Assets Cash Current non-strategic investments Accounts receivable, net Notes receivable Inventory Prepaid expenses Plant and equipment, net Total assets Liabilities and Equity Accounts payable Accrued wages payable Incom tover nouhla $986,000 $ 76,360 602,840 $679,200 59,340 619,860 $366,140 275,360 $ 90,780 11,600 $79,180 18,964 $ 60,216 $ 22,400 24,720 52,280 10,760 59,340 5,800 327,520 $502,820 $ 48,920 6,280 7 030

The 2023 financial statements of Outdoor Waterworks Inc. follow: Assume oll soles were on credit. Also assume the long-term note poyoble is due in 2026, with no current portion. On the December 31 . 2022 , bolance sheet, the assets totalled $433,720, common shares were $193,000, and retained earnings were $108,240 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 $433,720, common shares were $193,000, and retained earnings were $108,240. Required: Colculate the following: (Use 365 days in a year. Do not round your intermediate calculations. Round the answers to 2 decimal places.)