Judy Cumby is the sole owner of Deer Park, a public camping ground near Gross More National Park.
Judy has gathered the following financial information for the year ended March 31, 2014:

Instructions
(a) Calculate Deer Park's profit t for the year.
(b) Calculate Judy's owner's equity at March 31.
(c) Prepare a balance sheet at March 31.

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Revenues-camping fees Operating expenses Supplies on hand Fair value of equipment Accounts payable Accounts receivable Camping fees collected for April 40,000 9,400 110,000 /0,000 17,000 5,000 Insurance paid for in advance for April to June, 2014600 $150,000 150,000 Revenues-general store Cash on hand 2,500 Original cost of equipment 125,000 Notes payable 11,500 .Cumby, capital, April 1, 2013 21,000 J. Cumby, drawings 10,000