The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided below...
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The income statement, balance sheets, and additional information for Great Adventures, Inc., are provided below GREAT ADVENTURES, INC. Income Statement For the Year Ended December 31, 2020 Revenues Service revenue (clinic, racing, TEAM) Sales revenue (MU watches) $ 529,000 104,000 Total revenues 633,000 Cost of goods sold (watches) Operating expenses Depreciation expense Interest expense Income tax expense 63,000 303,576 43,000 29,024 52,800 Total expenses 491,400 Net income S 141,600 For the Year Ended December 31, 2020 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flow from operating activities Cash Flows from Investing Activities Net cash flow from investing activities Cash Flows from Financing Activities Net cash flow from investing activities 0 Cash Flows from Financing Activities Net cash flow from financing activities Cash at the beginning of the period Cash at the end of the period
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