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Sheridan Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31,
Sheridan Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2022. Service revenue (from camping fees) $159,800 Dividends $12,240 Sales revenue (from general store) 28.200 Notes payable 68,000 Accounts payable 14,960 Expenses during 2022 145,840 Cash Equipment 11,560 Supplies 7,480 155,040 Common stock 54,400 Retained earnings (1/1/2022) 6,800 Determine Sheridan Lakes Park's net income for 2022, Sheridan Lakes Park's net income for 2022 $ Prepare a retained earnings statement for Sheridan Lakes Park year ended December 31, 2022. (List items that increase retained earnings first.) SHERIDAN LAKES PARK Retained Earnings Statement Prepare a balance sheet for Sheridan Lakes Park as of December 31, 2022. (List assets in order of liquidity.) SHERIDAN LAKES PARK Balance Sheet Assets Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity
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