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Also what do you think the return of equity percentage would be? Thank you! Required: 1. Calculate the following risk ratios for 2022. (Use 365
Also what do you think the return of equity percentage would be? Thank you!
Required: 1. Calculate the following risk ratios for 2022. (Use 365 days in a year. Round your intermediate calculations and final answers to decimal place.) a. times b. days Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) Average collection period. Inventory turnover ratio. Average days in inventory. C. times d. days to 1 e. f. Current ratio. Acid-test ratio. (Hint: There are no current investments) Debt to equity ratio. to 1 g. % h. Times interest earned ratio. times Required information [The following information applies to the questions displayed below.] Income statement and balance sheet data for Great Adventures, Inc., are provided below. $176,690 240 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue 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 Net income 139,051 $ 37,879 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ 231, 844 48,680 8, 200 1,020 $ 64,620 0 0 4,980 620,000 830,000 74,360 (26,450) $1,787,654 0 0 46,000 (8,300) $107,300 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 $ $ 22,000 1,050 15, 100 24, 600 60, 137 586, 478 3,040 810 14,120 0 0 31,200 132,000 1,013, 200 59,089 (126,000) $1,787,654 24,080 0 34,050 0 $107,300Step by Step Solution
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