Additional information regarding fiscal $2023$:

$1.$ Dividends declared and paid were $$28,000.$

$2.$ During the year, equipment was sold for $$24,000$ cash. This equipment cost $$56,000$ originally and

had a carrying amount of $$24,000$ at the time of sale.

$3.$ Depreciation expense is included in operating expenses.

$4.$ All sales and purchases are on account.

$5.$ Accounts payable pertain to merchandise suppliers.

$6.$ All operating expenses except for depreciation were paid in cash.