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Judy Cumby is the sole owner of Oriole, a public camping ground near Gros Morne National Park. Judy has gathered the following financial information for the year ended March 31, 2021:

Revenuescamping fees	$ 163,000		Revenuesgeneral store	$40,000
Operating expenses	159,000		Cash on hand	10,000
Supplies on hand	2,500		Original cost of equipment	115,000
Fair value of equipment	130,000		Notes payable	73,000
Accounts payable	12,400		J. Cumby, capital, April 1, 2020	17,000
Accounts receivable	21,300		J. Cumby, drawings	7,000
Camping fees collected for April	10,000		Insurance paid for in advance for April to June, 2021	600

Calculate Oriole's profit for the year.

Profit

$

Prepare a balance sheet at March 31, 2021.

ORIOLE Balance Sheet For the Month Ended March 31, 2021March 31, 2021For the Year Ended March 31, 2021
Assets
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings			$
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Owner's EquityAssetsTotal Liabilities and Owner's EquityIntangible AssetsTotal LiabilitiesLiabilitiesTotal Intangible AssetsTotal AssetsProperty, Plant and EquipmentTotal Property, Plant and EquipmentTotal Owner's Equity			$
Liabilities and Owner's Equity
AssetsTotal LiabilitiesIntangible AssetsTotal Liabilities and Owner's EquityTotal Property, Plant and EquipmentTotal Owner's EquityTotal AssetsLiabilitiesTotal Intangible AssetsOwner's EquityProperty, Plant and Equipment
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings			$
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Total AssetsProperty, Plant and EquipmentTotal LiabilitiesOwner's EquityTotal Owner's EquityIntangible AssetsTotal Property, Plant and EquipmentAssetsTotal Liabilities and Owner's EquityTotal Intangible AssetsLiabilities
Total AssetsTotal Property, Plant and EquipmentTotal Intangible AssetsAssetsTotal LiabilitiesIntangible AssetsLiabilitiesProperty, Plant and EquipmentTotal Liabilities and Owner's EquityOwner's EquityTotal Owner's Equity
Accounts ReceivableAccounts PayableCashEquipmentJ. Cumby, CapitalNotes PayablePrepaid InsuranceSuppliesUnearned RevenueRevenuesCamping FeesRevenuesGeneral StoreOperating ExpensesJ. Cumby, Drawings
Total Property, Plant and EquipmentTotal LiabilitiesAssetsTotal Owner's EquityProperty, Plant and EquipmentIntangible AssetsTotal AssetsTotal Intangible AssetsLiabilitiesTotal Liabilities and Owner's EquityOwner's Equity			$

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