$189, 230 360 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses : Cost of goods sold $39, 700 Operating expenses 66,040 Depreciation expense 18,450 Interest expense 9,777 Income tax expense 15,700 Total expenses Net income 149,667 $ 39,923 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ 283, 118 49, 760 9,400 1,140 $ 64,740 0 0 5,460 740,000 0 860,000 0 86,720 52,000 (27,650). (8,600) $2,002,488 $113,600 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 $ 23,200 $3,280 1,350 870 15,700 14,240 28, 200 0 72,259 0 697,086 32,400 144,000 28,160 1, 122,400 0 60,293 34,650 (162,000) 0 $2,002,488 $113,600 Required: 1. Calculate the following risk ratios for 2022. (Use 365 days in a year. Round your intermediate calculations and final ans decimal place.) Answer is complete but not entirely correct. a. b. Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) Average collection period. Inventory turnover ratio Average days in inventory Current ratio. Acid-test ratio. (Hint: There are no current investments) Debt to equity ratio Times interest earned ratio. 7.6 times 48.0 days 8.4 times 43.2 days 2.4 d. e. to 1 f. g h 2.4 to 1 136.5 X % 8.6 % times