Where does the sled have the most energy?

The sled has the most energy at the highest point in its descent, where it possesses maximum potential energy due to its elevation. As it slides down, this potential energy is converted into kinetic energy, increasing the sled's speed. However, at the bottom of the slope, the sled has maximum kinetic energy, while its potential energy is at its minimum. Thus, the sled's total mechanical energy remains constant, assuming no energy losses.