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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

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 $ 197,590
Interest revenue 440
Expenses:
Cost of goods sold $ 40,100
Operating expenses 70,920
Depreciation expense 18,850
Interest expense 10,775
Income tax expense 16,100
Total expenses 156,745
Net income $ 41,285
GREAT ADVENTURES, INC.
Balance Sheets
December 31, 2022 and 2021
2022 2021
Assets
Current assets:
Cash $ 317,302 $ 64,820
Accounts receivable 50,480 0
Inventory 10,200 0
Other current assets 1,220 5,780
Long-term assets:
Land 820,000 0
Buildings 880,000 0
Equipment 94,960 56,000
Accumulated depreciation (28,450 ) (8,800 )
Total assets $ 2,145,712 $ 117,800
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable $ 24,000 $ 3,440
Interest payable 1,550 910
Income tax payable 16,100 14,320
Other current liabilities 30,600 0
Notes payable (current) 80,342 0
Notes payable (long-term) 770,825 33,200
Stockholders equity:
Common stock 152,000 30,880
Paid-in capital 1,195,200 0
Retained earnings 61,095 35,050
Treasury stock (186,000 ) 0
Total liabilities and stockholders equity $ 2,145,712 $ 117,800

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.

Required:

1. Calculate the following risk ratios for 2022.

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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.)

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times a. b. days days d. e 1 Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) Average collection period. 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. h. a. Gross profit ratio. (Hint: Use net sales revenues) b. Return on assets. Profit margin. (Hint: Use net sales revenues) Asset turnover (Hint: Use net sales revenues) Return on equity d

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