Please help me correct my answers on questions 1 and 2. Listed below is the original tables the questions are based off of, and then my previous attempt. Please help me figure out the correct values

[The following information applies to the questions displayed below.]

Income statement and balance sheet data for Great Adventures, Inc., are provided below.

As you can tell from the financial statements, 2020 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 to 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.

Required:

1. Calculate the following risk ratios for 2020. (Use 365 days in a year. Round your intermediate calculations and final answers to 2 decimal places.)

2. Calculate the following profitability ratios for 2020. (Round your answers to 2 decimal places.)

Here are my first attempts; obviously there is something wrong with my calculations

GREAT ADVENTURES, INC Income Statement For the Year Ended December 31, 2020 Revenues $553,000 128,000 Servi ce revenue (clinic, racing, TEAM) Sales revenue (MU watches) Total revenues $681,000 Expenses Cost of goods sold (MU watches) Operating expenses Depreciation expense Interest expense Income tax expense 75,000 304,776 55,000 30,224 60,000 Total expenses 525,000 Net income $156,000 GREAT ADVENTURES, INC. Balance SheetsS December 31, 2020 and 2019 Increase () or Decrease (D) 2020 2019 Assets Current assets Cash Accounts receivable Inventory Other current assets 286,046143,000 40,000 14,500 11,500 52,500 17,750 13,750 143,046 (l) 12,500 (I) 3,250 () 2,250 (I) Long-term assets: Land Buildings Equipment Less: Accumulated depreciation 400,000 1,200,000 70,000 (81,500) 0 400,000 (l) 0 1,200,000 () 70,000 (26,500) 55,000 (I) Total assets $ 1,958,546 252,500 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable $12,750 800 60,000 $9,500 800 40,500 3,250 () 19,500 () 512,296 () Long-term liabilities Notes payable 544,796 32,500 Stockholders' equity: Common stock Paid-in capital Retained earnings Treasury stock 130,000 1,105,000 170,200 (65,000) 30,000 0 139,200 0 100,000 (l) 1,105,000 (I) 31,000 (I) (65,000) () Total liabilities and stockholders' equity $1,958,546 $252,500 a. Receivables turnover ratio b. eriod c. | Inventory turnover ratio d. Average days in inventory e. Current ratio f.Acid-test ratio g.Debt to equity ratio h. s interest earned ratio times days times days to 1 to 1 Average collection p Time times a Gross profit ratio (on the MU watches) 0 b. Return on assets C. Profit margin d. Asset turnover e. Return on equity 0 0 times 0 Required: 1. Calculate the following risk ratios for 2020. (Use 365 days in a year. Round your intermediate calculations and final answers to 2 decimal places.) Answer is complete but not entirely correct. Receivables turnover ratio Average collection period Inventory turnover ratio Average days in invento Current ratio Acid-test ratio 14.72times 24.80 days 38.37 x times 9.51 days 5.03 to1 4.79 x to 1 0.46 % 8.15 times Debt to equity ratio limes interest earned ratio 9 Answer is complete but not entirely correct. Gross profit ratio (on the MU a watches) b. Return on assets c. Profit margin d. Asset turnover e. Return on equity 41.00 % 14.11% 22.91 01% 0.61 times 11.640%