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 134,000 shares of common stock for $10 per share.
November	16		Purchase 13,400 shares of its own common stock (i.e., treasury stock) for $32 per share.
November	24		Resell 7,400 shares of treasury stock at $33 per share.
December	1		Declare a cash dividend on its common stock of $14,800 ($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 $885,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account.

**** I just need the closing entries, income statement, and balance sheet. Thank you!****

Journal entry worksheet 1 2 3 4 5 6 7 8 8 9 Prepare the closing entry for the revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 9 > Prepare the closing entry for the expense and loss accounts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Journal entry worksheet Prepare the closing entry for the dividend account. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal GREAT ADVENTURES, INC. Income Statement Retained Earnings For the Period Ended December 31, 2022 $ 35,150 46,200 460 Service Revenue Interest Revenue 0 Net Sales 81,810 Sales Discounts ti 520 Gross Profit $ 81,290 tttt Operating Expense Salaries Expense Rent Expense Depreciation xpense Income Tax Expense Insurance Expense Supplies Expense Repairs and Maintenance Expense Warranty Expense Bad Debt Expense Interest Expense Total Operating Expenses Operating Income (Loss) 32,500 4,100 18,950 16,200 7,400 1,350 740 7,400 3,250 11,024 102,914 (21,624) 0 0 (21,624) 0 $ (21,624) GREAT ADVENTURES, INC. Balance Sheet December 31, 2022 Assets Liabilities Current Assets: Current Liabilities: $ 0 $ 0 0 0 0 ooooooo o 0 0 0 0 0 0 0 0 0 Total Current Liabilities 0 0 0 0 0 Total Current Assets 0 Total Liabilities 0 Long-term Assets: Stockholders' Equity 0 0 0 0 0 0 Oo 0 Total Stockholders' Equity 0 Total Liabilities and Stockholders' Equity Total assets $ $ 0