Income statement and balance sheet data for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement For the Year Ended December 31, 2020 Revenues: Service revenue (clinic, racing, TEAM) $527,000 Sales revenue (MU watches) 102,000 $629,000 Total revenues Expenses: Cost of goods sold (MU watches) Operating expenses Depreciation expense Interest expense Income tax expense 62,000 303,476 42,000 28,924 52,200 Total expenses 488,600 Net income $140,400 GREAT ADVENTURES, INC. Balance Sheets December 31, 2020 and 2019 2020 2019 Increase (1) or Decrease (D) ta $ Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: Land Buildings Equipment Less: Accumulated depreciation 313,452 33,000 15,800 11,800 130,000 27,000 13,200 10,200 183,452 (1) 6,000 (0) 2,600 (0) 1,600 (0) 400,000 (1) 1,000,000 (1) 400,000 1,000,000 57,000 (65,250) 57,000 (23,250) 42,000 (1) Total assets $ 1,765,802 $ 214,150 2,600 (0) $10,800 670 52,200 $8,200 670 34,000 18,200 (0) Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Paid-in capital Retained earnings Treasury stock 408,452 26,000 382,452 (1) 120,000 1,106,000 151,680 (84,000) 20,000 0 125,280 100,000 (1) 1,106,000 (1) 26,400 (1) (84,000) (1) 0 Total liabilities and stockholders' equity $ 1,765,802 $ 214,150 Required: 1. Calculate the following risk ratios for 2020. (Use 365 days in a year. Round your intermediate calculations and final answers to 2 decimal places.) a. 20.97 times b. days 4.28 times C. d. e. days Receivables turnover ratio Average collection period Inventory turnover ratio Average days in inventory Current ratio Acid-test ratio Debt to equity ratio Times interest earned ratio 5.87 to 1 f. to 1 % g. h. times 2. Calculate the following profitability ratios for 2020. (Round your answers to 2 decimal places.) a. Gross profit ratio (on the MU watches) Return on assets Profit margin Asset turnover Return on equity 0% times d. e