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 anded December 31, 2022 Net sales revenues $174,600 Interest revenue 220 Expenses: Cost of goods sold $39.000 Operating expenses 57.500 Depreciation expense 17,750 Interest expense 8,032 Income tax expense 15,000 Total expenses 137 282 Net Income 5. 37.530 2022 2021 $ 66,600 $223,298 48,500 8,000 1,000 6.900 GREAT ADVENTURES, INC. Balance Shebte December 31, 2022 and 2021 Assets Current andets Canh Accounts receivable Inventory Other current assets Long-term assets Land Buildings Equipment Accumulated depreciation Total asseto Liabilties and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable other current liabilities Notes payable (current) Noten payable (long-term) Stockholders' equity Common stock Paid-in capital Retained earnings Treasury stock Total abilities and stockholders' equity 600,000 125,000 0 72,300 45,000 26.250 (3.250) 51,751,840 $106,250 $ 21,800 $3,000 1,000 100 15.000 14,100 24,000 se, 116 568,044 31,000 130,000 23,600 995,000 o 58,888 33,950 120,000) 0 $1,751,48 5106,250 As you can 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. Great Adventures Problem AP12-1 Part 2 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.) b Gross profit ratio (Hint: Use net sales revenues) Retum on assets Profit margin(Hint: Use net sales revenues) Asset tumover (Hint: Use net sales revenues) Return on equity % % % C d times