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Wildhorse Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December
Wildhorse Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2022. Service revenue (from camping fees) $141,950 Dividends $10,980 Sales revenue (from general store) 25,050 Notes payable 61,000 Accounts payable Cash Equipment 13,420 Expenses during 2022 129,180 10,370 Supplies 6,710 139,080 Common stock 48,800 Retained earnings (1/1/2022) 6,100 (a) Determine Wildhorse Lakes Park's net income for 2022. Wildhorse Lakes Park's net income for 2022 $
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