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. GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues $ 168,330 Interest revenue 160 Expenses: Cost of goods sold $38,700 Operating expenses 53,840 Depreciation expense 17,450 Interest expense 7,284 Income tax expense 14,700 Total expenses 131,974 Net income $ 36,516 0 0 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 Assets Current assets: Cash $ 197,660 $ 64,540 Accounts receivable 47,960 Inventory 7,400 Other current assets 940 4,660 Long-term assets: Land 540,000 Buildings 810,000 Equipment 66,120 42,000 Accumulated depreciation (25,650) (8,100) Total assets $1,644,430 $103,100 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 21,200 $ 2,880 Interest payable 850 770 Income tax payable 14,700 14,040 Other current liabilities 22,200 Notes payable (current) 52,054 Notes payable (long-term) 512,740 30,400 Stockholders' equity: Common stock 124,000 21,360 Paid-in capital 940,4000 Retained earnings 58,286 33,650 Treasury stock (102,000) Total liabilities and $1,644,430 $103,100 stockholders' equity 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.) Gross profit ratio. (Hint: Use net sales revenues b. Return on assets. Profit margin. (Hint: Use net sales revenues) Asset turnover. (Hint: Use net sales revenues) e. Return on equity. times