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, 2020 Revenues Service revenue (clinic, racing, TEAM) Sales revenue (MU watches) $ 561,000 136,000 Total revenues Expenses $ 697,000 Cost of goods sold (watches) Operating expenses Depreciation expense Interest expense Income tax expense 79,000 305,176 59,000 30,624 62,400 otal expenses 536,200 Net income $160,800