The income statement, balance sheet, and additional information for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC Income Statement For the Year Ended December 31, 2017 Revenues: Service revenue (clinic, racing, TEAM) Sales revenue (MU watches) $ 543,000 118,000 lotal revenues $661,000 Expenses: Cost of goods sold (watches) Operating expenses Depreciation expense Interest expense Income tax expense 70,000 304,276 50,000 29,724 57,000 Total expenses 511,000 Net income $150,000