Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Income statement and balance sheet data for Great Adventures, Incorporated, are provided below. GREAT ADVENTURES, INCORPORATED Balance Sheets December 31, 2025 and 2024 2025 2024
Income statement and balance sheet data for Great Adventures, Incorporated, are provided below. GREAT ADVENTURES, INCORPORATED Balance Sheets December 31, 2025 and 2024 2025 2024 Assets Current assets: Cash Accounts receivable Inventory 0ther current assets Long-term assets: Land Buildings Equipment Accumulated depreciation Total assets \begin{tabular}{rr} 520,000 & 0 \\ 805,000 & 0 \\ 64,060 & 41,000 \\ (25,450) & (8,050) \\ \hline$1,608,624 & $102,050 \\ \hline \hline \end{tabular} 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 As you can tell from the financial statements, 2025 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 2025. (Use 365 days in a year. Round your intermediate calculations and final answers to 1 decimal place.) 2. Calculate the following profitability ratios for 2025 . (Use 365 days in a year. Round your intermediate calculations and final answers to 1 decimal place.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started