Income statement and balance sheet data for Great Adventures, Inc., are provided below. $172,510 200 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses: Cost of goods sold $38,900 Operating expenses 56,280 Depreciation expense 17,650 Interest expense 7,782 Income tax expense 14,900 Total expenses Net income 135,512 $ 37,198 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ 214,752 48,320 7,800 980 $ 64,580 0 0 4,820 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 580,000 820,000 70,240 (26,050). $1,716, 042 0 0 44,000 (8,200) $105,200 $ $ $ 21,600 950 14,900 23,400 Anc 2,960 790 14,080 0 $ s 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 stockholderu' equity 21,600 950 14,900 23,400 56,096 549,608 2,960 790 14,080 0 0 30,800 128,000 22,720 976,800 0 58,688 33,850 (114,000) 0 $1,716,042 $105,200 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. 2. Calculate the following profitability ratios for 2022, (Use 365 days in a year. Round your intermediate calculations and final answers to 1 decimal place.) a b % . d Gross profit ratio. (Hint: Use net sales revenues) Return on assets Profit margin. (Hint: Usenet sales revenues) Asset turnover. (Hint: Use net sales revenues) Return on equity % times %