accounting question

Required information Great Adventures Problem AP12-1 (The following information applies to the questions displayed below.) Income statement and balance sheet data for Great Adventures, Inc., are provided below. $174,600 220 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses Cost of goods sold $39,000 Operating expenses 57,500 Depreciation expense 17,750 Interest expense 8,032 Income tax expense 15,000 Total expenses Net income 137,282 $ 37,538 vod Ecounting Cycle 3 ADA AUDULURBO Balance Sheets December 31, 2022 and 2021 2022 2021 $ 223,298 48,500 8,000 1,000 $ 64,600 0 0 4,900 600,000 825,000 72,300 (26,250) $1,751,848 0 0 45,000 (8,250) $106,250 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 $ 21,800 1,000 15,000 24,000 58,116 568,044 $ 3,000 800 14,100 0 0 31,000 130,000 995,000 58,888 (120,000) $1,751,848 23,400 0 33,950 0 $106,250 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. Great Adventures Problem AP12-1 Part 2 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.) Great Adventures Problem AP12-1 Part 2 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.) b 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 % % times % d e