Jan Nab is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Jan has compiled the following financial information as of December 31, 2010.
![](https://www.solutioninn.com/images3/47-B-A-A-C%20(99).PNG)
Instructions
(a) Determine Jan Nab's net income from Deer Park for 2010.
(b) Prepare a balance sheet for Deer Park as of December 31,2010.