LEARNING ACTIVITY 2 You recently graduated from Yorkville University with a BBA and were hired by Kidgets Tour Services. Your boss knows that you were an honest and ethical student who never cheated on any Learning Activities. He has asked you to prepare an Income Statement and Balance Sheet based on the following information. Your boss would also like you to write a brief paragraph on how you think the company could improve its Profitability. Account Amount Account Amount Accounts Payable (B1?) 95,000 Land 500,000 Accounts Receivable 25,000 Accumulated Depreciation Equip 55,000 Advertising Expense 33,000 Common Stock 250,000 Cash 100,000 Equipment 350,000 Depreciation 15,000 Goodwill 86,000 Fuel 22,000 Insurance Expense 75,000 Interest Expense 5,000 Tax Rate 40% Marketable Securities 10,000 Retained Earnings 175,000 Marketing Expense 97,000 Short term Notes Payable 82,000 Prepaid Rent 15,000 Mortgage 490,000 Tour Service Revenue 326,000 Tax Payable 32,000 Unearned Revenue 10,000 Interest Revenue 18,000 Wages Payable 22,000 Inventory 125,000