1 Required information The following information applies to the questions displayed below) Income statement and balance sheet data for Great Adventures, Inc. are provided below GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues $170,420 Interest revenue 130 Expenses: Cost of goods sold 530,500 Operating expenses 55,50 Depreciation expense 17.550 Interest Expense 7.535 Income tax expense 14.30 Total expenses 133.243 et incon 536,857 GREAT ADVENTURES, THC Balance Sheets December 31, 2022 and 2021 2022 2001 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ 64,560 $ 206,206 48,140 7,600 960 @ 4,740 560,000 @ 815,000 68,180 43,000 (25,850 (8,158) $1,680,236 $184,150 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 $ 21,400 900 14,800 22,800 54,275 531,174 $ 2,920 780 14,060 @ 30, 600 22,040 126,000 958,600 58,487 (108,000) 33,750 e CG 13 11 560.00 35,00 63,150 (es,u50) $1,600,236 43,000 (8150) 5104,150 Land Buildings quipment Accumulated depreciation Total assets Libilities and Stockholders' Equity Current is Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current) Notes payable long-tere) Stockholders' equity Common stock Paid.in capital Retained earnings Treasury stock Total liabilities and stockholders' equity 21.400 $2,920 900 750 14.500 14,060 22,500 54,025 531,174 30,600 22,040 126,000 958, 600 55,487 (188,000 $1,650,236 33,750 $104,150 As you can tell from the financial statements 2022 was an especially busy year. Tony and Suzie were able to use the money received from borrowing and the issuance of stock to buy land and begin construction of cabins, dining facilities, ropes course, and the outdoor swimming pool. They even put in a baby pool to celebrate the birth of their first child Required: 1. Calculate the following risk ratios for 2022. (Use 365 days in a year, Round your intermediate calculations and final answers to 1 decimal place.) times D C d Receivables tumover ratio (Hint: Use net sales revenues for niet credit sales) Average collection period Inventory turnover ratio Average days in inventory Current ratio Acid-test ratio (Hint: There are no current investments) Debit to equity ratio Times interest eamed ratio days times dayo to 1 to 1 e 9 times As you can tell from the financial statements, 2022 was an especially busy year. Tony and Suzie were able to use the money received from borrowing and the issuance of stock to buy land and begin construction of cabins, dining facilities, ropes course, and the outdoor swimming pool. They even put in a baby pool to celebrate the birth of their first child. 2. Calculate the following profitability ratios for 2022 (Use 365 days in a year. Round your intermediate calculations and final answers to 1 decimal place.) a b 96 C Gross profit ratio (Hint: Use net sales revenues) Return on assets Profit margin (Hint: Use net sales revenues) Asset turnover (Hint: Use net sales revenues) Return on equity d times e