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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.
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.
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Did the company's level of financial risk increase or decrease from 2009 to 2010?Explain.
What is meant by budget variance?
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