Western Environmental Inc. Comparative Balance Sheet Information Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation. Accounts payable Wages payable Income taxes payable Notes payable (long-term) Common shares Retained earnings June 30 2023 2022 $91,360 $ 42,400 98,000 80,180 74,800 116,180 6,500 6,260 158,000 146,000 34,000 14,000 31,600 38,800 8,800 19,600 2,900 4,340 50,000 86,000 278,000 218,000 28,740 4,900 Western Environmental Inc. Income Statement For Year Ended June 30, 2023 Sales $788,000 Cost of goods sold 479,200 $308,800 Gross profit Operating expenses: Depreciation expense Other expenses Total operating expenses Profit from operations Gain on sale of equipment Profit before taxes Income taxes Profit $ 70,340 80,420 150,760 $158,040 2,800 $160,840 58,040 $102,800