( 1. ) Calculate the profitability ratios for 2022:

a. gross profit ratio b. return on assets c. profit margin d. asset turnover e. return on equity

Income statement and balance sheet data for Great Adventures, Inc., are provided below. $180,870 280 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses: Cost of goods sold $39,300 Operating expenses 61,160 Depreciation expense 18,050 Interest expense 8,780 Income tax expense 15,300 Total expenses Net income 142,590 $ 38,560 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ 248,936 49,040 8,600 1,060 $ 64,660 0 0 5,140 660,000 840,000 78,480 (26,850) $1,859, 266 0 0 48,000 (8,400) $ 109,400 Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: Land Buildings Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current) Notes payable (long-term) Stockholders' equity: Common stock Paid-in capital Retained earnings Treasury stock Total liabilities and stockholders' equity $ $ 22,400 1,150 15,300 25,800 64,178 623,348 3,120 830 14,160 0 0 31,600 136,000 1,049,600 59,490 (138,000) $1,859, 266 25,440 0 34,250 0 $ 109,400 a. Gross profit ratio. (Hint: Use net sales revenues) % b. Return on assets. % c. % d. Profit margin. (Hint: Use net sales revenues) Asset turnover. (Hint: Use net sales revenues) Return on equity. times e. %