The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net revenues: Expenses: Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income. $168,490 $38,700 53,840 17,550 7,284 14,700 132,074 $ 36,416 Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: Land Buildings Equipment Accumulated depreciation. GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 Increase (I) or Decrease (D) $ 195,840 47,960 7,400 $ 63,180 $ 132,660 (I) 47,960 (I) e 7,400 (I) 940 4,660 3,720 (D) 540,000 0 540,000 (1) 812,000 812,000 (I) 66,120 (25,650) 42,000 24,120 (I) (8,100) 17,550 (I) $1,644,610 $103,100 Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current and long-term) Stockholders' equity: Common stock Paid-in capital Retained earnings 22,560 770 14,700 $ 2,880 770 14,040 22,200 $ 19,680 (1) 660 (I) 22,200 (1) 563,794 30,400 533,394 (1) 124,000 20,000 104,000 (1) 940,400 e 940,400 (I) 58,186 33,650 Treasury stock (102,000) 0 24,536 (I) (102,000) (1) Total liabilities and stockholders' equity $1,644,610 $103,100 Additional Information for 2022: 1 Land of $540,000 was obtained by issuing a note payable to the seller. 2. Buildings of $812,000 and equipment of $24,120 were purchased using cash. 3. Monthly payments during the year reduced notes payable by $6,606. 4. Issued common stock for $1,040,000. 5. Purchased 10,400 shares of treasury stock for $17 per share. 6. Sold 4,400 shares of treasury stock at $18 per share. 7. Declared and paid a cash dividend of $11,880.