Income statement and balance sheet data for Great Adventures, Inc., are provided below.

GREAT ADVENTURES, INC. Income Statement For the Year Ended December 31, 2014 Revenues: Service revenue (clinic, racing, TEAM) 576,000 Sales revenue (MU watches) 131,000 Total revenues $707,000 Expenses: Cost of goods sold (MU watches) 69,100 Operating expenses 293,276 Depreciation expense 49,900 Interest expense 23,760 Income tax expense 56,000 Total expenses 492,036 Net income $214,964

GREAT ADVENTURES, INC. Balance Sheet December 31, 2014 and 2013 2014 2013 Increase (I) or Decrease (D) Assets Current assets: Cash $ 325,393 $145,580 179,813 (I) Accounts receivable 44,200 34,900 9,300 (I) Inventory 15,100 13,200 1,900 (I) Other current assets 12,100 10,500 1,600 (I) Long-term assets: Land 489,000 0 489,000 (I) Buildings 990,000 0 990,000 (I) Equipment 63,200 63,200 Less: Accumulated depreciation (75,850) (25,950) 49,900 (I) Total assets $1,863,143 $241,430 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 12,300 $ 10,700 1,600 (I) Interest payable 830 830 Income tax payable 57,300 38,400 18,900 (I) Long-term liabilities: Notes payable 410,949 31,800 379,149 (I) Stockholders' equity: Common stock 118,000 19,000 99,000 (I) Paid-in capital 1,093,300 0 1,093,300 (I) Retained earnings 243,264 140,700 102,564 (I) Treasury stock (72,800) 0 (72,800) (I) Total liabilities and stockholders' equity $1,863,143 $241,430

As you can tell from the financial statements, 2014 was an especially busy year. Tony and Suzie were able to use the $1.19 million received from the issuance of 99,000 shares of stock and hire a construction company for $1 million to build the cabins, dining facilities, ropes course, and the outdoor swimming pool. They even put in a baby pool to celebrate the birth of their firstborn son, little Venture Matheson.

6. value: 10.00 points

Required: 1.

Calculate the following risk ratios for 2014. (Use 365 days in a year. Do not round intermediate calculations. Round your answers to 1 decimal place. Omit the "%" sign in your response.)

Receivable turnover ratio times Average collection period days Inventory turnover ratio times Average days in inventory days Current ratio to 1 Acid-test ratio to 1 Debt to equity ratio % Times interest earned ratio times

check my workreferences 7. value: 10.00 points

2. Calculate the following profitability ratios for 2014. (Do not round intermediate calculations. Round your answers to 1 decimal place. Omit the "%" sign in your response.)

Gross profit ratio (on the MU watches) % Return on assets % Profit margin % Asset turnover times Return on equity %

check my workreferences