Income statement and balance sheet data for Great Adventures, Inc., are provided below. $166,240 140 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses: Cost of goods sold $38,600 Operating expenses 52,620 Depreciation expense 17,350 Interest expense 7,034 Income tax expense 14,600 Total expenses Net income 130,204 $ 36,176 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ $ 64,520 189,114 47,780 7,200 920 4,580 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 savable 520,000 805,000 64,060 (25,450) $1,608,624 41,000 (8,050) $102,050 $ 21,000 800 14.600 2,840 760 14.020 Balance sneets December 31, 2022 and 2021 2022 2021 $ $ 64,520 189,114 47, 780 7,200 920 4,580 520,000 805,000 64,060 (25,450) $1,608,624 41,000 (8,050) $102,050 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 Notes payable (current) Notes payable (long-term) Stockholders' equity: Common stock Paid-in capital Retained earnings Treasury stock Total liabilities and stockholders' equity $ $ 21,000 800 14,600 21,600 50,034 494,304 2,840 760 14,020 36,200 20,680 122,000 922,200 58,086 (96,000) $1,608,624 33,550 $102,050 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. 33,550 Treasury stock Total liabilities and stockholders' equity 58,086 (96.000) $1,608,624 33.560 $102,050 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. equired: Calculate the following risk ratios for 2022. (Use 365 days in a year. Round your intermediate calculations and final answers to 1 ecimal place.) a. b. C. Receivables turnover ratio. (Hint: Use net sales revenues for not credit sales) Average collection period. Inventory turnover ratio. Average days in inventory. Current ratio. Acid-test ratio. (Hint: There are no current investments) Debt to equity ratio. Times interest earned ratio. times days times days to 1 d. f. 9. h
