Wyco park a public camping ground near the four corners national recreation area, has compiled the following financial information as of december 31, 2022
Revenue during 2022-camping fees $140,000
Revenue during 2022-general store 47,000
Accounts payable 11,000
Cash on hand 20,000
Original cost of equipment 105,500
Fair value of equipment 140,000
Notes payable $60,000
Expenses during 2022 150,000
Supplies on hand 2,500
Common stock 20,000
Retained earnings ?
a. Determine Wyco Park's Net Income For 2022
b.prepare a balance sheet for wyco park as of december 31, 2022
Prepare an income statement