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Please help me Calculate the following profitability ratios for 2022. Income statement and balance sheet data for Great Adventures, Inc., are provided below. $189,230 360
Please help me Calculate the following profitability ratios for 2022.
Income statement and balance sheet data for Great Adventures, Inc., are provided below. $189,230 360 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses: Cost of goods sold $39,700 Operating expenses 66,040 Depreciation expense 18,450 Interest expense 9,777 Income tax expense 15,700 Total expenses Net income 149,667 $ 39,923 SAT URES, Balance Sheets December 31, 2022 and 2021 2022 2021 $ 283, 118 49,760 9,400 1,140 $ 64, 740 0 0 5,460 740,000 860,000 86,720 (27,650) $2,002,488 0 0 52,000 (8,600) $113,600 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 $ $ 23,200 1,350 15,700 28, 200 72,259 697,086 3,280 870 14,240 0 0 32,400 144,000 1,122,400 60,293 (162,000) $2,002,488 28, 160 0 34,650 0 $113,600 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. 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.) a. Gross profit ratio. (Hint: Use net sales revenues) % b. Return on assets. % C. % d. Profit margin. (Hint: Use net sales revenues) Asset turnover. (Hint: Use net sales revenues) Return on equity. times e. %Step by Step Solution
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