4 Required information Great Adventures Problem AP12-1 [The following information applies to the questions displayed below. Part 1 of 2 Income statement and balance sheet data for Great Adventures, Inc., are provided below. 4 points Skipped GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues $176,690 Interest revenue 240 Expenses: Cost of goods sold $39,100 Operating expenses 58,720 Depreciation expense 17,850 Interest expense 8,281 Income tax expense 15,100 Total expenses 139,051 Net income $ 37,879 Print Reference GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 Assets Current assets: Cash $ 231, 844 $ 64,620 Accounts receivable 48,680 0 Inventory 8,200 0 Other current assets 1,020 4,980 Long-term assets: Land 620,000 0 Buildings 830,000 0 Equipment 74,360 46,000 Accumulated depreciation (26,450) (8,300) Total assets $1,787,654 $107,300 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 22,000 $ 3,040 Interest payable 1,050 810 Income tax payable 15,100 14,120 Other current liabilities 24,600 0 Notes payable (current) 60,137 0 Notes payable (long-term) 586, 478 31,200 Stockholders' equity: Common stock 132,000 24,080 Paid-in capital 1,013,200 0 Retained earnings 59,089 34,050 Treasury stock (126,000) Total liabilities and stockholders' equity $1,787,654 $107,300 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 e. f. Current ratio. Acid-test ratio. (Hint: There are no current investments) Debt to equity ratio. Times interest earned ratio. to 1 to 1 % times g. h