Income statement and balance sheet data for Great Adventures, Inc., are provided below GREAT ADVENTURES, INC Income Statement For the Year Ended December 31, 2020 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