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Tony's favorite memories of his childhood were the times he spent with his dad at camp. Tony was daydreaming of those days a bit as he and Suzie jogged along a nature trail and came across a wonderful piece of property for sale. He turned to Suzie and said, "I've always wanted to start a camp where families could get away and spend some quality time together. If we just had the money, I know this would be the perfect place." On November $1,2025,$ Great Adventures purchased the land by issuing a $$500,000,6\%,10-$year installment note to the seller. Payments of $$5,551$ are required at the end of each month over the life of the $10-$year loan. Each monthly payment of $$5,551$ includes both interest expense and principal payments $($i$.$e$.,$ reduction of the loan amount$).$

Late that night, Tony exclaimed, $"$We now have land for our new camp; this has to be the best news ever!" Suzie said, "There's something else I need to tell you. I$\text{'}$m expecting!"

Requirement

General

General

Journal

Ledger

Trial Balance

Income

Statement

Balance Sheet

Prepare an income statement for the period ended December $31,2025.$ Choose the appropriate accounts to complete the company's income statement. The unadjusted or post$-$closing balances will appear for each account, based on your selection.

Unadjusted

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