Required information Great Adventures Problem AP12-1 (The following information applies to the questions displayed below) Income statement and balance sheet data for Great Adventures, Inc. are provided below, CHAT ADVERTORES, INC. Income tatement For the year anded December 31, 2022 Hot sales revenues $170.600 Interest revenge Expenses Cost of goods sold $19.000 Operating expenses 57.500 Depreciation expense 17,750 Interest expense 3,032 Inco Las pense 15.000 Total expenses 122 202 Net income $ 37.530 320 GREAT ADVENTURES, INC. Balance Sheata December 31, 2022 and 2021 2022 2021 # 223,208 544.600 48,500 0.000 1.000 6.900 600.000 325,000 0 72,300 65.000 26,250 L-250) 51,751,48 106,250 Assets Current star Cash recounts receivable Tnventory Other current assets Long-ten star Land Buildinga Equipment Accumulated depreciation Total aseta Labincies and Stockholdersquity Current liabilities Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current) Noten payable (long-term) Stockholdere equity Common stock Paid in capital Retained earnings Treasury stock total liabilities and stockholders' equity $ 21,300 1.000 15,000 24,000 50.116 56,044 $ 3.000 BDD 14.300 33.000 130.000 23.00 995,000 o 55,83 33.950 (120,000 51,253, 5106,250 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 acades ropes course, and the outdoor swimming pool. They even put in a baby pool to celebrate the birth of their fest child Great Adventures Problem AP12-1 Part 1 Required: 1. Calculate the following risk ratios for 2022. (Use 365 days in a year, Round your intermediate calculations and final answers to 1 decimal place.) Great Adventures Problem AP12-1 Part 1 Required: 1. Calculate the following risk ratios for 2022. (Use 365 days in a year. Round your intermediate calculations and final answers to 1 decimal place.) a. b. d Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) Average collection period. Inventory turnover ratio. Average days in Inventory Current ratio Acid-test ratio (Hint: There are no current investments) Debt to equily ratio Times Interesteamed ratio. times days times days to 1 to 1 % times 0. 0 h Required information Great Adventures Problem AP12-1 (The following information applies to the questions displayed below) Income statement and balance sheet data for Great Adventures, Inc. are provided below, CHAT ADVERTORES, INC. Income tatement For the year anded December 31, 2022 Hot sales revenues $170.600 Interest revenge Expenses Cost of goods sold $19.000 Operating expenses 57.500 Depreciation expense 17,750 Interest expense 3,032 Inco Las pense 15.000 Total expenses 122 202 Net income $ 37.530 320 GREAT ADVENTURES, INC. Balance Sheata December 31, 2022 and 2021 2022 2021 # 223,208 544.600 48,500 0.000 1.000 6.900 600.000 325,000 0 72,300 65.000 26,250 L-250) 51,751,48 106,250 Assets Current star Cash recounts receivable Tnventory Other current assets Long-ten star Land Buildinga Equipment Accumulated depreciation Total aseta Labincies and Stockholdersquity Current liabilities Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current) Noten payable (long-term) Stockholdere equity Common stock Paid in capital Retained earnings Treasury stock total liabilities and stockholders' equity $ 21,300 1.000 15,000 24,000 50.116 56,044 $ 3.000 BDD 14.300 33.000 130.000 23.00 995,000 o 55,83 33.950 (120,000 51,253, 5106,250 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 acades ropes course, and the outdoor swimming pool. They even put in a baby pool to celebrate the birth of their fest child Great Adventures Problem AP12-1 Part 1 Required: 1. Calculate the following risk ratios for 2022. (Use 365 days in a year, Round your intermediate calculations and final answers to 1 decimal place.) Great Adventures Problem AP12-1 Part 1 Required: 1. Calculate the following risk ratios for 2022. (Use 365 days in a year. Round your intermediate calculations and final answers to 1 decimal place.) a. b. d Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) Average collection period. Inventory turnover ratio. Average days in Inventory Current ratio Acid-test ratio (Hint: There are no current investments) Debt to equily ratio Times Interesteamed ratio. times days times days to 1 to 1 % times 0. 0 h
