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Deer track park is a private camping ground near the

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Deer Track Park is a private camping ground near the Lathom Peak Recreation Area. It has compiled the following financial information as of December 31, 2012

2012_Deer Track Park Net Income.PNG

Instructions

(a) Determine Deer Track Park's net income for 2012.

(b) Prepare a retained earnings statement and a balance sheet for Deer Track Park as of December 31, 2012.

(c) Upon seeing this income statement, Ken Zilber, the campground manager, immediately concluded, ?oThe general store is more trouble than it is worth-let's get rid of it.?? The marketing director isn't so sure this is a good idea. What do you think?

Reference no: EM13566084

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