Question

Flint Hills Park is a private camping ground near the Lathom Peak Recreation Area. It has compiled the following financial information as of December 31, 2014.



Instructions
(a) Determine Flint Hills Park’s net income for 2014.
(b) Prepare a retained earnings statement and a balance sheet for Flint Hills Park as of December 31, 2014.
(c) Upon seeing this income statement, Joe Winsor, the campground manager, immediately concluded, “The general store is more trouble than it is worth—let’s get rid of it.” The marketing director isn’t so sure this is a good idea. What do youthink?


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  • CreatedApril 07, 2014
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