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)	580,000
Sales revenue (MU watches)	125,000
Total revenues		$705,000
Expenses:
Cost of goods sold (MU watches)	68,100
Operating expenses	288,276
Depreciation expense	48,700
Interest expense	26,660
Income tax expense	55,500
Total expenses		487,236
Net income		$217,764

GREAT ADVENTURES, INC. Balance Sheet December 31, 2014 and 2013
	2014	2013	Increase (I) or Decrease (D)
Assets
Current assets:
Cash	$ 632,724	$138,270	494,454	(I)
Accounts receivable	43,300	33,400	9,900	(I)
Inventory	15,300	13,700	1,600	(I)
Other current assets	12,400	10,000	2,400	(I)
Long-term assets:
Land	483,000	0	483,000	(I)
Buildings	980,000	0	980,000	(I)
Equipment	64,500	64,500
Less: Accumulated depreciation	(74,150)	(25,450)	48,700	(I)
Total assets	$2,157,074	$234,420
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 12,400	$ 9,800	2,600	(I)
Interest payable	820	820
Income tax payable	57,600	38,600	19,000	(I)
Long-term liabilities:
Notes payable	455,490	30,100	425,390	(I)
Stockholders' equity:
Common stock	111,000	15,000	96,000	(I)
Paid-in capital	1,354,600	0	1,354,600	(I)
Retained earnings	251,164	140,100	111,064	(I)
Treasury stock	(86,000)	0	(86,000)	(I)
Total liabilities and stockholders' equity	$2,157,074	$234,420

As you can tell from the financial statements, 2014 was an especially busy year. Tony and Suzie were able to use the $1.44 million received from the issuance of 96,000 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 information

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

References WorksheetDifficulty: HardCheck my work

7. value:

10.00 points Required information

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		%