1. Calculate the following risk ratios for 2020

a. Receivables turnover ratio in times

b. Average collection period in days

c. Inventory turnover ratio in times

d. Average days in inventory in days

e. Current Ratio to 1

f. Acid-test ratio to 1

g. Debt to equity ratio &

h Times interest earned ratio times

2. Calculate the following profitability ratios for 2020

a. Gross Profit ratio (on the MU watches) %

b. Return on assets %

c. Profit margin %

d. Asset turnover times

e. Return on equity %

Income Statement For the Year Ended December 31, 2020 Revenues: Service revenue (clinic, racing, TEAM $555,000 Seles revenue (MU watches 130.000 5685,000 Total revenues Experses: Cost of goods sold IMU watches Operating expenses Depreciation expense Interest expense Income tax expense 75.000 304.876 55.000 30 324 50,600 Tatal expenses 527,800 Nat income $157,200 GREAT ADVENTURES, INC. Balence Sheets December 31, 2020 and 2019 2020 Increase ) or Decrease (D) 2019 $ $ Assets Current assets: Cash Accounts receivable Inventory Other current essets Long-term assets: Lend Buildings Equipment Less. Accumulated depreciation 313,784 54,000 17,900 13,900 144.000 41,000 14,600 11.600 169,784 0 13,000 0 3,3000 2,3000 0 600,000 1,000,000 71,000 (82.750 600,000 1,000,000 $0 71.000 126,750) 56,000 Tatal assets $ 1.997,834 $ 255,450 3,3000 $12,900 810 60,600 59,600 810 41,000 19,600 0 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tex payable Long-tam liabilities: Notes payable Stockholders' equity Common stock Paid in capital Retained earnings Treasury stack 555.284 33.000 522.284 0 120,000 1,105,000 193,240 160,000 20.000 0 151,040 0 100,000 0 1.105,0000 42.2000 160,000/ Tatal liabilities and stockholders' equity $ 1,937,834 $ 255,450 As you can tell from the financial statements, 2020 was an especially busy year. Tony and Suzie were able to use the $1.2 million received from the issuance of 100,000 shares of stock to hire a construction company for $1 million to build the cabins, dining facilities, ropes course, and the outdoor swimming pool. They even put in a baby pool to celebrate the birth of their firstborn son, little Venture Matheson. Assume all sales and services are on credit