Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow an additional $1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp. Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2021, Tony and Suzie each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following transactions affect stockholders equity during the remainder of 2022: November 5 Issue an additional 128,000 shares of common stock for $10 per share. November 16 Purchase 12,800 shares of its own common stock (i.e., treasury stock) for $29 per share. November 24 Resell 6,800 shares of treasury stock at $30 per share. December 1 Declare a cash dividend on its common stock of $14,200 ($0.10 per share) to all stockholders of record on December 15. December 20 Pay the cash dividend declared on December 1. December 31 Pay $870,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account.

What's the income statement?

Cash Accounts Receivable No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 Nov 05 52,800 1 Nov 05 1,280,000 2 Nov 16 371,200 Ep bot WN 72,170 1,352,170 980,970 1,184,970 1,170,770 300,770 3 Nov 24 204,000 5 Dec 20 14,200 870,000 6 Dec 30 Allowance for Uncollectible Accounts Inventory No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 2,680 Nov 05 9,800 Prepaid Insurance Land No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 1,180 Nov 05 780,000 Equipment Accumulated Depreciation No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 90,840 Nov 05 28,050 Buildings Accounts Payable No. Date Debit Credit Balance No. Debit Credit Date Nov 05 Balance 23,600 0 Dec 30 870,000 870,000 Interest Payable Income Tax Payable No. Debit Credit Balance No. Date Debit Credit Balance Date Nov 05 1,450 Nov 05 15,900 Dividends Payable Deferred Revenue No. Date Debit Credit Balance No. Date Debit Credit Balance 7,800 0 Nov 05 Nov 05 Dec 01 4 14,200 14,200 5 Dec 20 14,200 0 Notes Payable (Current) Notes Payable (Long-term) No. Date Debit Credit No. Date Debit Credit Balance Balance 76,301 733,955 Contingent Liability Warranty Liability No. Date Debit Credit No. Date Debit Credit Balance 14,800 Balance 6,800 Nov 05 Nov 05 Common Stock Treasury Stock No. Date Debit Credit Balance No. Date Debit Credit Balance 0 20,000 148,000 Nov 05 Nov 16 1 Nov 05 128,000 2 371,200 371,200 174,000 3 Nov 24 197,200 Additional Paid-in Capital Retained Earnings Debit Credit No. Date Debit Credit Balance No. Date Nov 05 0 Nov 05 Balance 34,850 228,660 1 Nov 05 7 Dec 31 193,810 1,152,000 6,800 1,152,000 1,158,800 3 Nov 24 8 153,206 Dec 31 Dec 31 75,454 61,254 9 14,200 Dividends Service Revenue No. Date Debit Credit Balance No. Date Debit Credit Balance 0 Nov 05 45,900 4 Dec 01 14,200 14,200 7 Dec 31 45,900 9 Dec 31 14,200 0 Sales Revenue Sales Discounts No. Date Debit Credit Balance No. Debit Credit Balance Date Nov 05 Nov 05 148,000 490 Sales Revenue Sales Discounts No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 148,000 Nov 05 490 7 Dec 31 148,000 0 7 Dec 31 490 0 Interest Revenue Cost of Goods Sold No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 400 Nov 05 39,900 7 Dec 31 400 0 8 Dec 31 39,900 0 Depreciation Expense Supplies Expense No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 18,650 Nov 05 1,200 8 Dec 31 18,650 0 8 Dec 31 1,200 0 Salaries Expense Bad Debt Expense No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 Nov 05 3,100 31,000 0 8 Dec 31 31,000 8 Dec 31 3,100 0 Interest Expense Rent Expense No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 10,276 Nov 05 3,800 1 8 Dec 31 10,276 0 8 Dec 31 3,800 0 Income Tax Expense Insurance Expense No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 15,900 Nov 05 7,100 1 8 Dec 31 15,900 0 8 Dec 31 7,100 0 Repairs and Maintenance Expense Warranty Expense No. Date Debit Credit Balance No. Date Debit Credit Balance Nov 05 680 Nov 05 6,800 1 8 Dec 31 680 0 8 Dec 31 6,800 0 Loss No. Date Debit Credit Balance Nov 05 14,800 T 8 Dec 31 14,800 0 GREAT ADVENTURES, INC. Income Statement For the Period Ended December 31, 2022 $ 0 0 0 0 Net Sales O 0 Gross Profit $ 0 Operating Expense OOO 0 O 0 0 0 0 0 0 Total Operating Expenses Operating Income (Loss) 0 ooo 0 0