Answer the folowing sections showing your steps : 1-e, 1-f, 1-g, 1-h, 2-e.

The tollowing information applies to the questions displayed below. Income statement and balance sheet data for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC Income Statement For the Year Ended December 31, 2020O Revenues Service revenue (clinic, racing, TEAM) Sales revenue (MU watches) $547,000 122,000 lotal revenues $669,000 Expenses Cost of goods sold (MU watches) Operating expenses Depreciation expense Interest expense Income tax expense 72,000 304,476 52,000 29,924 58,200 Total expenses 516,600 Net income $152,400O