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Carla Vista Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December
Carla Vista Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2022. Service revenue (from camping fees) $139,400 Dividends $10,620 Sales revenue (from general store) 24,600 Notes payable 59,000 Accounts payable 12,980 Expenses during 2022 127,420 Cash Equipment 10,030 Supplies 6,490 134,520 Common stock 47,200 Retained earnings (1/1/2022) 5,900 Determine Carla Vista Lakes Park's net income for 2022. Carla Vista Lakes Park's net income for 2022 $ Prepare a retained earnings statement for Carla Vista Lakes Park year ended December 31, 2022. (List items that increase retained earnings first.) CARLA VISTA LAKES PARK Retained Earnings Statement For the Year Ended December 31, 2022 Retained Earnings, January 1 Add : Net Income (Loss) Less Dividends Retained Earnings, December 31 + $ +A Prepare a balance sheet for Carla Vista Lakes Park as of December 31, 2022. (List assets in order of liquidity.) Cash Supplies Equipment Total Assets Liabilities Accounts Payable Notes Payable Total Liabilities CARLA VISTA LAKES PARK Balance Sheet December 31, 2022 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Assets $ $ Liabilities and Stockholders' Equity $ $ $
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