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) $ 537,000 112,000 649,000 Total revenues Expenses Cost of goods sold (watches) Operating expenses Depreciation expense Interest expense Income tax expense 67,000 303,976 47,000 29,424 55,200 Total expenses 502,600 Net income $146,400