Income statement and balance sheet data for Great Adventures, Inc., are provided below. GREAT ADVENTURES, INC. Income Statement For the Year Ended December 31, 2017 Revenues: Service revenue (clinic, racing, TEAM) $541,000 Sales revenue (MU watches) 116,000 Total revenues $657,000 Expenses: Cost of goods sold (MU watches) 69,000 Operating expenses 304,176 Depreciation expense 49,000 Interest expense 29,624 Income tax expense 56,400 Total expenses 508,200 Net income $148,800 GREAT ADVENTURES, INC. Balance Sheet December 31, 2017 and 2016 2017 2016 Increase (I) or Decrease (D) Assets Current assets: Cash $ 248,618 $ 137,000 111,618 (I) Accounts receivable 43,500 34,000 9,500 (I) Inventory 16,850 13,900 2,950 (I) Other current assets 12,850 10,900 1,950 (I) Long-term assets: Land 350,000 0 350,000 (I) Buildings 1,200,000 0 1,200,000 (I) Equipment 64,000 64,000 Less: Accumulated depreciation (74,000) (25,000) 49,000 (I) Total assets $ 1,861,818 $ 234,800 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $11,850 $8,900 2,950 (I) Interest payable 740 740 Income tax payable 56,400 37,500 18,900 (I) Long-term liabilities: Notes payable 481,868 29,500 452,368 (I) Stockholders' equity: Common stock 130,000 30,000 100,000 (I) Paid-in capital 1,105,500 0 1,105,500 (I) Retained earnings 152,460 128,160 24,300 (I) Treasury stock (77,000) 0 (77,000) (I) Total liabilities and stockholders' equity $ 1,861,818 $ 234,800 As you can tell from the financial statements, 2017 was an especially busy year. Tony and Suzie were able to use the $1.2 million received from the issuance of 100,000 shares of stock and hire a construction company for $1 million to build the cabins, dining facilities, ropes course, and the outdoor swimming pool. They even put in a baby pool to celebrate the birth of their firstborn son, little Venture Matheson. Assume all sales and services are on credit. References Section BreakGreat Adventures Problem 12-1 4.value: 3.00 pointsRequired information Great Adventures Problem 12-1 Part 1 Required: 1. Calculate the following risk ratios for 2017. (Use 365 days in a year. Round your intermediate calculations and final answers to 2 decimal places.) References Great AdventuresGreat Adventures Problem 12-1 Part 1Difficulty: Hard 5.value: 3.00 pointsRequired information Great Adventures Problem 12-1 Part 2 2. Calculate the following profitability ratios for 2017. (Round your answers to 2 decimal places.) References