ires Problem AP11-1 The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net revenues: Expenses: Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income $193,810 $39,900 68,480 19,350 10,276 15,900 153,906 $ 39,904 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 Current liabilities: Accounts payable Interest payable Tarnav naushle 2022 2021 Increase (I) or Decrease (D) 287,470 $55,260 $ 232,210 (1) 50,120 9,800 0 50,120 (I) 0 1,180 5,620 9,800 (1) 4,440 (D) 780,000 780,000 (1) 884,000 0 884,000 (1) 90,840 54,000 36,840 (1) (28,050) (8,700) 19,350 (1) $2,075,360 $115,700 $ 33,120 890 $3,360 890 $ 29,760 (I)