Required information Skip to question [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 $180,870 Interest revenue 280 Expenses: Cost of goods sold $39,300 Operating expenses 61,160 Depreciation expense 18,050 Interest expense 8,780 Income tax expense 15,300 Total expenses 142,590 Net income $ 38,560 GREAT IDVENTURES, INC Balance Sheets December 31, 2022 and 2021 2022 2021 Assets Current assets: Cash $ 248,936 $ 64,660 Accounts receivable 49,040 0 Inventory 8,600 0 Other current assets 1,060 5,140 Long-term assets: Land 660,000 0 Buildings 840,000 0 Equipment 78,480 48,000 Accumulated depreciation (26,850 (8.400) 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 Dther current liabilities 25,800 0 Other current liabilities 25,800 Notes payable (current) 64,178 0 Notes payable (long-term) 623,34B 31,600 Stockholders' equity: Common stock 136,000 25,440 Paid-in capital 1,049,600 0 Retained earnings 59,490 34,250 Treasury stock (138,000) 0 Total liabilities and stockholders' equity $1,859,266 $109,400 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.) a. b. Gross profit ratio. (Hint: Use net sales revenues) Return on assets. Profit margin. (Hint: Use net sales revenues) Asset turnover. (Hint: Use net sales revenues) Return on equity. d. e