Great Adventures Problem AP7-1 (GL) Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2022, for $13,600. They expect to use the Suburban for five years and then sell the vehicle for $5,300. The following expenditures related to the vehicle were also made on July 1, 2022 - The company pays $2,200 to GEICO for a one-year insurance policy - The company spends an extra $4,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides - An additional $2,400 is spent on a deluxe toof rack and a trailer hitch The pointing. roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22,2022, the company pays $1,200 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, ond insetting a new air filter. GREAT ADVENTURES, INC. Income Statement For the period ended December 31, 2022 Revenue: Unadjusted Great Adventures Problem AP7-1 (GL) Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2022, for $13,600. They expect to use the Suburban for five years and then sell the vehicle for $5,300. The following expenditures related to the vehicle were also made on July 1, 2022 - The company pays $2,200 to GEICO for a one-year insurance policy - The company spends an extra $4,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides - An additional $2,400 is spent on a deluxe toof rack and a trailer hitch The pointing. roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22,2022, the company pays $1,200 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, ond insetting a new air filter. GREAT ADVENTURES, INC. Income Statement For the period ended December 31, 2022 Revenue: Unadjusted