Lisa Anderson is the sole owner of Wildhorse Vista Park, a public camping ground near the Crater Lake National Recreation Area. Lisa has compiled the following financial information as of December 31, 2022.
Revenues during 2022—camping fees
$198,408 Fair value of equipment
$198,408
Revenues during 2022—general store
92,118 Notes payable
85,032
Accounts payable
15,589 Expenses during 2022
212,580
Cash on hand
32,596 Accounts receivable
24,801
Original cost of equipment
149,515 A) Determine Lisa Anderson’s net income from Wildhorse Vista Park for 2022. [I got $48,893 but am unsure if correct]
B) Prepare a balance sheet for Wildhorse Vista Park as of December 31, 2022.