Karen White is the sole owner of Crane Vista Park, a public camping ground near the Crater Lake National Recreation Area. Karen has compiled the following financial information as of December 31, 2022.

Revenues during 2022- camping fees $187,236 Fair value of equipment $187, 236

Revenues during 2022- general store 86,931 Notes payable 80,244

Accounts payable 14,711 Expenses during 2022 200.610

Original cost of equipment 141,096 Accounts receivable 23,404

a) Determine Karen White's net income from Crane Vista Park for 2022

New income ?

b)

Prepare balance sheet for Crane Vista Park as of December 31, 2022 (List Assets in order of Liquidity)

Crane Vista Park -Balance Sheet For the Year Ended December 31, 2022

Answer rating: 100% (QA)

a To determine Karen Whites net income from Crane Vista Park for 2022 we need to calculate the total ... View the full answer