udy Cumby is the sole owner of Pharoah, a public camping ground near Gros Morne National Park. Judy has gathered the following financial information for the year ended March 31, 2021:

Revenuescamping fees	$ 161,000		Revenuesgeneral store	$40,000
Operating expenses	160,000		Cash on hand	5,800
Supplies on hand	2,500		Original cost of equipment	112,000
Fair value of equipment	127,000		Notes payable	73,000
Accounts payable	11,800		J. Cumby, capital, April 1, 2020	17,000
Accounts receivable	21,900		J. Cumby, drawings	10,000
Camping fees collected for April	10,000		Insurance paid for in advance for April to June, 2021	600

Calculate Pharoah's profit for the year.

Profit

$

eTextbook and Media

Assistance Used

Calculate Judy's owner's equity for the period ended March 31, 2021.

Owner's Equity

$

eTextbook and Media

Assistance Used

• eTextbook

Prepare a balance sheet at March 31, 2021.

PHAROAH Balance Sheet For the Month Ended March 31, 2021March 31, 2021For the Year Ended March 31, 2021
Assets
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings			$
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Owner's EquityProperty, Plant and EquipmentIntangible AssetsTotal Intangible AssetsAssetsTotal LiabilitiesTotal Property, Plant and EquipmentLiabilitiesTotal Liabilities and Owner's EquityTotal Owner's EquityTotal Assets			$
Liabilities and Owner's Equity
Owner's EquityTotal Property, Plant and EquipmentProperty, Plant and EquipmentIntangible AssetsTotal Intangible AssetsLiabilitiesAssetsTotal Owner's EquityTotal AssetsTotal LiabilitiesTotal Liabilities and Owner's Equity
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings			$
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
LiabilitiesTotal Owner's EquityAssetsTotal Intangible AssetsTotal Liabilities and Owner's EquityIntangible AssetsProperty, Plant and EquipmentOwner's EquityTotal AssetsTotal Property, Plant and EquipmentTotal Liabilities
Property, Plant and EquipmentIntangible AssetsTotal Intangible AssetsTotal Owner's EquityTotal AssetsAssetsOwner's EquityTotal Liabilities and Owner's EquityTotal Property, Plant and EquipmentTotal LiabilitiesLiabilities
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Total Liabilities and Owner's EquityTotal Owner's EquityTotal Property, Plant and EquipmentProperty, Plant and EquipmentIntangible AssetsTotal Intangible AssetsAssetsOwner's EquityTotal LiabilitiesLiabilitiesTotal Assets			$