Wyco Park, a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as of December 31, 2019.

Instructions
(a) Determine Wyco Park's net income for 2019.
(b) Prepare a balance sheet for Wyco Park as of December 31, 2019.

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Revenues during 2019-camping fees $140,000 Notes payable Revenues during 2019 general store 47,000 Expenses during 2019 50,000 Accounts payable Cash on hand Original cost of equipment Fair value of equipment 60,000 11,000 Supplies on hand 20,000 Common stock 105,500 Rted earnings 2,500 20,000 フ 140,000