Patricia Johnson is the sole owner of Crane Vista Park, a public camping ground near the Crater Lake National Recreation Area. Patricia has compiled the following financial information as of December 31, 2022.

Revenues during 2022camping fees		$186,228		Fair value of equipment		$186,228
Revenues during 2022general store		86,463		Notes payable		79,812
Accounts payable		14,632		Expenses during 2022		199,530
Cash on hand		30,595		Accounts receivable		23,278
Original cost of equipment		140,336

(a) Determine Patricia Johnsons net income from Crane Vista Park for 2022.

(b) Prepare a balance sheet for Crane Vista Park as of December 31, 2022. (List Assets in order of liquidity.)

CRANE VISTA PARK Balance Sheet choose the accounting period

Assets
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Liabilities and Owners Equity
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