Income statement and balance sheet data for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues $199,680 Interest revenue 460 Expenses 1 Coat of goods sold $40,200 Operating expennes 72,140 Depreciation expense 18,950 Interest expense 11,024 Income tax expense 16,200 Total expenses 158,514 Net income $ 41,626 2022 2021 $ 325,848 50,660 10,400 1,240 $ 64,840 0 0 5,860 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 Assets Current assets Cash Accounts receivable Inventory Other current assets Long-term ansets: Land Buildings Equipment Accumulated depreciation Total sata Liabilities and stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable Other current liabilities 840,000 0 885,000 0 97,020 57,000 (28,650) (8,850) $2,101,518 $118.850 $ 24,200 1,600 16,200 31.200 $ 3,480 920 14,340 0 920 14,340 1,600 16,200 31,200 82,363 789,259 0 33,400 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 154.000 1,213,400 61,296 (192,000) $2,181,518 31,560 0 35,150 0 $118,850 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. Gross profit ratio. (Hint: Uso net sales revenues) Return on assets Profit margin. (Hint: Uso net sales revenues) Asset turnover (Hint: Use net sales revenues) Return on equity % % times % d