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I need answer for e~ h Required information Great Adventures Problem AP12-1 [The following information applies to the questions displayed below.] Income statement and balance
I need answer for e~h
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. $180,870 280 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses: Cost of goods sold $39,300 Operating expenses 61,160 Depreciation expense 18,050 Interest expense 8,780 Income tax expense 15,300 Total expenses Net income 142,590 $ 38,560 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: 248,936 49,040 8,600 1,060 $ 64,660 0 0 5,140 HHH Preu of 5 Next > GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ 248,936 49,040 8,600 1,060 $ 64,660 0 0 5,140 660,000 840,000 78,480 (26,850) $1,859, 266 0 0 48,000 (8,400) $109,400 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 $ $ 22,400 1,150 15,300 25,800 64,178 623,348 3,120 830 14,160 0 0 31,600 136,000 1,049,600 59,490 (138,000) $1,859,266 25, 440 0 34,250 0 $109,400 As you can tell from the financial statements, 2022 was an especially busy year. Tony and Suzie were able to use th 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 1 Required: 1. Calculate the following risk ratios for 2022. (Use 365 days in a year. Round your intermediate calculations and final answers to 1 decimal place.) a b c Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) Average collection period. Inventory turnover ratio. Average days in inventory. Current ratio Acid-test ratio. (Hint: There are no current investments) Debt to equity ratio Times interest earned ratio. 7.4 times 49.3 days 9.1 times 40.1 days d f to 1 to 1 h % timesStep by Step Solution
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