Income statement and balance sheet data for Great Adventures, Inc., are provided below.

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Income statement and balance sheet data 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) $543,000 118,000 Total revenues $661,000 Expenses: Cost of goods sold (MU watches) Operating expenses Depreciation expense Interest expense Income tax expense 70,000 304.276 50,000 29,724 57,000 Total expenses 511,000 Net income $150,000