The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided below.

GREAT ADVENTURES, INC.
Income Statement
For the year ended December 31, 2022
Net revenues:				$	204,360
Expenses:
Cost of goods sold	$	40,400
Operating expenses		74,580
Depreciation expense		20,100
Interest expense		11,523
Income tax expense		16,400
Total expenses					163,003
Net income				$	41,357

GREAT ADVENTURES, INC.
Balance Sheets
December 31, 2022 and 2021
									Increase (I) or
	2022				2021				Decrease (D)
Assets
Current assets:
Cash	$	325,650			$	51,960			$	273,690		(I)
Accounts receivable		51,020				0				51,020		(I)
Inventory		10,800				0				10,800		(I)
Other current assets		1,280				6,020				4,740		(D)
Long-term assets:
Land		880,000				0				880,000		(I)
Buildings		914,000				0				914,000		(I)
Equipment		101,140				59,000				42,140		(I)
Accumulated depreciation		(29,050	)			(8,950	)			20,100		(I)
Total assets	$	2,254,840			$	120,950
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable	$	37,520			$	3,560			$	33,960		(I)
Interest payable		940				940
Income tax payable		16,400				14,380				2,020		(I)
Other current liabilities		32,400				0				32,400		(I)
Notes payable (current and long-term)		903,033				33,800				869,233		(I)
Stockholders equity:
Common stock		158,000				20,000				138,000		(I)
Paid-in capital		1,249,800				0				1,249,800		(I)
Retained earnings		60,747				35,350				25,397		(I)
Treasury stock		(204,000	)			0				(204,000	)	(I)
Total liabilities and stockholders equity	$	2,254,840			$	120,950

Additional Information for 2022:

1. Land of $880,000 was obtained by issuing a note payable to the seller.
2. Buildings of $914,000 and equipment of $42,140 were purchased using cash.
3. Monthly payments during the year reduced notes payable by $10,767.
4. Issued common stock for $1,380,000.
5. Purchased 13,800 shares of treasury stock for $34 per share.
6. Sold 7,800 shares of treasury stock at $35 per share.
7. Declared and paid a cash dividend of $15,960.