Great Adventures Problem 11-1 The income statement, balance sheet, and additional information for Great Adventures, Inc., are provided below GREAT ADVENTURES, INC. Income Statement For the Year Ended December 31, 2017 Revenues: Service revenue (clinic, racing, TEAM) Sales revenue (MU watches) $539,000 114,000 lotal revenues $ 653,000 Expenses. Cost of goods sold (watches) Operating expenses Depreclation expense Interest expense Income tax expense 68,000 304,076 48,000 29,524 55,800 Total expenses 505,400 Net income $147,600