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

Instructions

a. Calculate Deer Park?s profit for the year.

b. Calculate Judy?s owner?s equity for the period as at March 31, 2021.

c. Prepare a balance sheet at March 31, 2021.

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Accounts payable Accounts receivable Advertising expense Building Interest expense Investments by owner Maintenance expense Notes payable Other expenses Prepaid insurance Revenue Salaries expense Supplies $ 47,750 42,950 3,640 122,570 20,080 553,300 311,182 33,950 2,566 $ 20,960 5,847 82,870 379,000 66,500 1,283 350,640 Cash Equipment I. Temelkova, capital, June 1, 2020 I. Temelkova, drawings 126,950 Insurance expense