Camping revenue Cash Equipment Accounts payable Bank loan payable Income tax expense Dividends declared Operating expenses Supplies Common shares, Jan. 1 Common shares issued during year Retained earnings, Jan. 1 $283,000 19,000 124,000 16,500 50,000 10,000 12,000 245,000 2,500 30,000 15,000 18,000 Instructions a. Determine net income for the year. b. Prepare a statement of changes in equity and a statement of financial position for the year