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, 2023 61,890 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