- sheet. prepare balance sheet E1.17 (LO6) AP Judy Cumby is the sole owner of Deer Park, a public camping ground near Gros More National Park. Judy has gathered the following financial information for the year ended March 31, 2021: Revenues-camping fees $150,000 Revenues-general store $ 40,000 Operating expenses 150,000 Cash on hand 9.400 Supplies on hand 2,500 Original cost of equipment 110,000 Fair value of equipment 125,000 Notes payable 70,000 Accounts payable 11,500 J. Cumby, capital, April 1, 2020 17.000 Accounts receivable 21,000 J. Cumby, drawings 5.000 Camping fees collected for April 10,000 Insurance paid for in advance for April to June 2021 600 Instructions a. Calculate Deer Park's profit for the year. b. Calculate Judy's owner's equity for the period as at March 31, 2021. c. Prepare a balance sheet at March 31, 2021. Relate come to business E13 (LO 2) Listed below are several statements regarding different forms of business organization Instructions For each statement, indicate if that statement is true or false for each of the forms of business organization by placing a Tor an F in each column. Publicly Traded Proprietorship Partnership Corporation a. Owners have limited liability. b. Records of the business are combined with the personal records of the owner or owners. c. Required to follow IFRS. d. Pays income taxes on its profits. e. Owners are called "shareholders." f. Will have more than one owner. g. Has a limited life. h. Has a separate legal existence from its owners