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, 2022.

Service revenue (from camping fees)		$176,300		Dividends		$13,500
Sales revenue (from general store)		28,700		Notes payable		75,000
Accounts payable		16,500		Expenses during 2022		158,500
Cash		12,750		Supplies		8,250
Equipment		171,000		Common stock		60,000
				Retained earnings (1/1/2022)		7,500

Determine Cullumber Lakes Parks net income for 2022.

Cullumber Lakes Parks net income for 2022

$enter Cullumbers net income for 2022 in dollars

Prepare a retained earnings statement for Cullumber Lakes Park year ended December 31, 2022. (List items that increase retained earnings first.)