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Cullumber Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December
Cullumber Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2025. Service revenue (from camping fees) $145,800 Dividends $11,520 Sales revenue (from general store) 34,200 Notes payable 64,000 Accounts payable 14,080 Expenses during 2025 140,320 Cash 10,880 Supplies 7,040 Equipment 145,920 Common stock 51,200 Retained earnings (1/1/2025) 6,400 (a) Your answer is incorrect. Determine Cullumber Lakes Park's net income for 2025. Cullumber Lakes Park's net income/(loss) for 2025 $
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