Compute et income and prepare a balance sheet EL14 (LOS) Financial Statement Saira Morrow is the sole owner of Buena Vista Park, a public camping ground near the Crater Lake National Recrcation Area Saira has compiled the following finan cial information as of December 31, 2020 Revenues during 2020 camping fees S140,000 Fair value of equipment $140,000 Revenues during 2020-general store 65,000 Notes payable 50,000 Accounts payable 11,000 Expenses during 2020 150,000 Cash on hand 22,000 Accounts receivable 17,500 Original cost of equipment 115,500 Exercises 1-41 Instructions a. Determine Saira Morrow's net income from Buena Vista Park for 2020 b. Prepare a balance sheet for Buena Vista Park as of December 31, 2020