Based on information included in the attachments, Prepare a balance sheet for Sunland Lakes Park as of December 31, 2022. (List assets in order of liquidity.)Assets__________________ $ __________________________________________ ___________________________________________ ___________________________________________ $ ____________________________ Liabilites and Stockholders' Equity____________________________________________________________ $________________________________________________________ ___________________________ ______________________________ ________________________________________________________ __________________________ ______________________________. ________________________________________________________ $ __________________________ SUNLAND LAKES PARKRetained Earnings StatementFor the Year Ended December 31, 2022Retained Earnings, January 15,800AddNet Income / (Loss)35,96041,760LessDividends(10,440)iRetained Earnings, December 3131,320%24%24 Sunland Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financialinformation as of December 31, 2022.Service revenue (from camping fees)$130,400Dividends$10,440Sales revenue (from general store)32,600Notes payable58,000Accounts payable12,760Expenses during 2022127,040Cash9,860Supplies6,380Equipment132,240Common stock46,400Retained earnings (1/1/2022)5,800

The question is based on the concept of Final Accounts.

Answered: Based on information included in the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Based on information included in the attachments, Prepare a balance sheet for Sunland Lakes Park as of December 31, 2022. (List assets in order of liquidity.)

Assets

__________________ $ ________________________

__________________ _________________________

__________________ $ ____________________________

Liabilites and Stockholders' Equity

______________________________

______________________________ $__________________________

______________________________ ___________________________

______________________________ __________________________

______________________________. __________________________

______________________________ $ __________________________

SUNLAND LAKES PARK
Retained Earnings Statement
For the Year Ended December 31, 2022
Retained Earnings, January 1
5,800
Add
Net Income / (Loss)
35,960
41,760
Less
Dividends
(10,440)
i
Retained Earnings, December 31
31,320
%24
%24

Sunland Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial
information as of December 31, 2022.
Service revenue (from camping fees)
$130,400
Dividends
$10,440
Sales revenue (from general store)
32,600
Notes payable
58,000
Accounts payable
12,760
Expenses during 2022
127,040
Cash
9,860
Supplies
6,380
Equipment
132,240
Common stock
46,400
Retained earnings (1/1/2022)
5,800

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