I income and prepare of financial position.
E1.14 (LO 5) Bear Park Ltd., a camping ground in the Lake District, has compiled the following financial information as of December 31, 2025 .
\( \begin{array}{lrlr}\text { Revenues during 2025-camping fees } & £ 140,000 & \text { Notes payable } & £ 60,000 \\ \text { Revenues during 2025-general store } & 47,000 & \text { Expenses during 2025 } & 150,000 \\ \text { Accounts payable } & 11,000 & \text { Supplies on hand } & 2,500 \\ \text { Cash on hand } & 20,000 & \text { Share capital-ordinary } & 20,000 \\ \text { Original cost of equipment } & 105,500 & \text { Retained earnings } & ? \\ \text { Current value of equipment } & 140,000 & & ?\end{array} \)
a. Determine Bear Park's net income for 2025 .
b. Prepare a statement of financial position for Bear Park Ltd. as of December 31, 2025.
E1.15 (LO 5) Presented below is financial inform Cruises SA