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help please! Income statement and balance sheet data for Great Adventures, Incorporated, are provided below. GREAT ADVENTURES, INCORPORATED Income Statement For the Year Ended December
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Income statement and balance sheet data for Great Adventures, Incorporated, are provided below. GREAT ADVENTURES, INCORPORATED Income Statement For the Year Ended December 31, 2025 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 137,28237,538 GREAT ADVENTURES, INCORPORATED Balance Sheets December 31,2025 and 2024 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 2025 215,00014,100 As you can tell from the financial statements, 2025 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. WP12-1 (Algo) Great Adventures Continuing Case Part 1 equired: Calculate the following risk ratios for 2025. (Use 365 days in a year. Round your intermediate calculations and final answers to ecimal place.)Step by Step Solution
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