Current Attempt in Progress Nancy Jackson is the only owner of Blossom Park, a public camping ground near the Lake Mead National Recreation Area. Nancy has compiled the following financial information as of December 31, 2022. Service revenues during 2022 $276,750 Fair value of equipment $189,000 Accounts payable 14,850 Notes payable 81.000 Cash on hand 31,050 Expenses during 2022 202,500 Original cost of equipment 142,425 Accounts receivable 23,625 (a) Determine Nancy Jackson's net income from Blossom Park for 2022 Net income $ Prepare a balance sheet for Blossom Park as of December 31, 2022 BLOSSOM PARK Balance Sheet Assets Liabilities and Owner's Equity e e Textbook and Media Bramble Enterprises had the following selected transactions. 1. 2. 3. Bo Bramble invested $3,880 cash in the business. Purchased a 2-year insurance policy for $2,328. Paid office rent of $815. Performed consulting services and billed a client $5,044. Bo Bramble withdrew $728 cash for personal use. 4. 5. Prepare the debit-credit analysis for each transaction. Debit-Credit Analysis Effect on Accounting Equation Debits Debit Credits Credit Debits Debit Credits Credit Debit-Credit Analysis Effect on Accounting Equation Ef 1 Debits : Debit $ Credits .: Credit $ 2 Debits . Debit $ Credits : Credit 3. Debits Debit Credits Credit 4. Debits e: Debit $ Credits Credit $ 5. Debits Debit Credits .: Credit Debit-Credit Analysis Effect on Accounting Equation Effect on Amounts Debit $ Credit Debit Credit Debit . Credit e . Debit $ Credit I Debit : Credit extbook and Media of Annannte