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Determine flint hills park''s net income for 2014.

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Reference no: EM13272927

xercise 1-10 (Part Level Submission)
Flint Hills Park is a private camping ground near the Lathom Peak Recreation Area. It has compiled the following financial information as of December 31, 2014.

Service revenue (from camping fees) $132,000 Dividends $9,000
Sales revenue (from general store) 25,000 Notes payable 50,000
Accounts payable 11,000 Expenses during 2014 126,000
Cash 8,500 Supplies 5,500
Equipment 114,000 Common stock 40,000
Retained earnings (1/1/2014) 5,000



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(a)Determine Flint Hills Park's net income for 2014.

Flint Hills Park's net income for 2014 $

Reference no: EM13272927

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