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QUESTION
Park A is a private camping ground. It has compiled the following financial information as of December 31, 2017.
Park A is a private camping ground. It has compiled the following financial information as of December 31, 2017.
Service revenue (from camping fees)$132,000
Dividends$ 9,000
Sales revenue (from general store)25,000
Notes payable 50,000
Accounts payable 11,000
Expenses during 2017 126,000
Cash 8,500
Supplies 5,500
Equipment 114,000
Common stock 40,000
Retained earnings (1/1/2017) 5,000
1) determine net income for 2017
2) show
income statementSales revenue (from general store)Service revenue (from camping fees) 25000132000 total revenue 157000 Expenses during 2017 126000 net income 31000 retained earningsRetained...