Great Adventures Problem AP12-1 [The following information applies to the questions displayed below.] Income statement and balance sheet data for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue $203,860 500 Expenses: Cost of goods sold $40,400 Operating expenses. 74,580 Depreciation expense 19,150 Interest expense 11,523 Income tax expense 16,400 Total expenses 162,053 Net income $ 42,307 Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: Land Buildings GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity 2022 2021 $ 342,940 $ 64,880 51,020 0 10,800 1,280 6,020 880,000 0 895,000 0 101,140 59,000 (29,050) (8,950) $2,253,130 $120,950