YEAR-END PROCEDURES After completing all the month-end procedures, go to page 14 of the Instructions and Flowcharts book and complete all the year-end procedures. Additional information for the year-end procedures is: No Ending Inventory A physical inventory was taken 1/1/23, before business began for the new year. Merchandise on hand cost $202,920.00. No Bad Debt Expense The expense for bad debts is estimated at the end of the year as one half of one percent (0.005) of net sales. No Marketable Securities At December 31, 2022, the market value of marketable securities held by Waren approximated the cost of the securities