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please solve Required information [The following information applies to the questions displayed below.] Income statement and balance sheet data for Great Adventures, Incorporated, are provided
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Required information [The following information applies to the questions displayed below.] Income statement and balance sheet data for Great Adventures, Incorporated, are provided below. GREAT ADVENTURES, INCORPORATED Income Statement For the Year Ended December 31, 2025 $ 180,870 Net sales revenues Interest revenue Expenses: 280 $ 39,300 61, 160 18,050 8,780 15,300 142,590 $ 38,560 GREAT ADVENTURES, INCORPORATED Balance Sheets December 31, 2025 and 2024 Cost of goods sold Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash Accounts receivable. Inventory. Other current assets Long-term assets: Land Buildinne 2025 $ 248,936 49,040 8,600 1,060 660,000 R40 000 2024 $ 64,660 0 0 5,140 GREAT ADVENTURES, INCORPORATED Balance Sheets December 31, 2025 and 2024 2025 2024 Assets Current assets: Cash $ 64,660 $ 248,936 49,040 Accounts receivable- 0 Inventory. 8,600 0 Other current assets 1,060 5,140 Long-term assets: Land 660,000 0 0 Buildings 840,000 78,480 Equipment Accumulated depreciation 48,000 (8,400) (26,850) Total assets $ 1,859,266 $ 109,400 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 22,400 $ 3,120 Interest payable 1,150 830 Income tax payable 15,300 14,160 Other current liabilities. 25,800 0 Notes payable (current) 64,178 0 Notes payable (long-term) 623,348 31,600 Stockholders' equity: Common stock 25,440 Paid-in capital 0 Retained earnings 136,000 1,049,600 59,490 (138,000) 34,250 0 Treasury stock Total liabilities and stockholders' equity $ 1,859,266 $ 109,400 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. Help Subm Seved Save & Exit 25,800 0 64,178 0 Other current liabilities Notes payable (current) Notes payable (long-term) Stockholders' equity: Common stock 623,348 31,600 136,000 25,440 Paid-in capital 1,049,600 0 59,490 34,250 Retained earnings Treasury stock (138,000) 0 Total liabilities and stockholders' equity $ 1,859,266 $ 109,400 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. 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.) a. Gross profit ratio. (Hint: Use net sales revenues.) % b. Return on assets. % c. Profit margin. (Hint: Use net sales revenues.) % d. Asset tumover. (Hint: Use net sales revenues.) times e. Return on equity. % Step by Step Solution
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