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. GREAT ADVENTURES, INC Income Statenent Por the year ended December 31, 2022 $191, 320 380 Set sales revenues Cost of goods sold Operating expenes Depreciation expense Interest expense Income tax expense $39, 800 61, 260 18,550 10,027 15, 800 151,437 $ 40,263 Total expenses Net income GREAT ADVENTURES, INC Balance Sheets December 31, 2022 and 2021 2022 2021 Assets Current asset:s $ 291,664 $ 64,760 Accounts receivable Other current assets Land 49,940 9, 600 1,160 5, 540 760,000 865,000 BB, 180 (27,850) 53,000 Aecumulated depreciation Total asset $2,038,294 $114, 650 Liabilities and Stochholders Equity Current liabilities Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current) $ 23,400 $ 3,320 B80 14, 260 1,400 15, B00 2B,800 74, 281 715, 520 Notes payable (long-term) Stoctholder equity: 32, 600 28, 840 34,750 $114, 650 Common stoc aid-in 146,000 1.140,600 60,493 168,000 $2,038,294 in capital Treasury tock Total liabilities and stoctholders' equity As you can tell from the financial statements, 2022 was an especlally busy year. Tony and Suzle were able to use the money recelved from borrowing and the issuance of stock to buy land and begin construction of cablns, dining faciltties, ropes course, and the outdoor swimming pool. They even put In a baby pool to celebrate the blrth of thelr first child. Great Adventures Problem AP12-1 Part 1 1. Calculate the followng risk ratios for 2022 (Use 365 days in a year. Round your Intermediate calculations and final answers to 1 decimal place.) Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales times b. Average collection period c. Inventory turnover ratio d. Average days in inventory e. Current ratio f. Acid-test ratio. (Hint: There are no current investments) g. Debt to equity ratio h. Times interest earned ratio days times days to 1 to 1 times