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Sunland Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31,
Sunland 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) $165,300 Dividends $12,420 Sales revenue (from general store) 24,700 Notes payable 69,000 Accounts payable 15,180 Expenses during 2022 147,220 Cash 11,730 Supplies 7,590 Equipment 157,320 Common stock 55,200 Retained earnings (1/1/2022) 6,900 (a) Your answer is correct. Determine Sunland Lakes Park's net income for 2022. Sunland Lakes Park's net income for 2022 $ 42780 Prepare a retained earnings statement for Sunland Lakes Park year ended December 31, 2022. (List items that increase retained earnings first.) SUNLAND LAKES PARK Retained Earnings Statement $ $
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