Toni Pena is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Toni has compiled the following financial information as of December 31, 2012
![470_Determine Toni Penas net income.PNG](https://secure.tutorsglobe.com/CMSImages/470_Determine%20Toni%20Penas%20net%20income.PNG)
Instructions
(a) Determine Toni Penas net income from Deer Park for 2012.
(b) Prepare a balance sheet for Deer Park as of December 31,2012.