Required Information The following information applies to the questions displayed below] Income statement and balance sheet data for Great Adventures, Inc., are provided below. $189,230 360 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses: Cost of goods sold $39,780 Operating expenses 65,800 Depreciation expense 18.45 Interest expense 9,772 Income tax expense 15,709 Total expenses Net income 149,667 $ 39,923 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2822 2021 $ 233,118 $ 64,74 49,760 9.00 1,14 5.46e 740,00 850,00 85,722 52,800 (27.650) (8.600) $2,202,488 $113,600 Assets Current assets: Cash Accounts receivable Inventory Other current assets Long-term assets: Land Buildings Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current Notes payable (long-term) Stockholders' equity: Comon stock Paid-in capital Retained earnings Treasury stock Total liabilities and stockholders' equity 5 23,200 $3,280 1,350 32e 15,700 14,240 28,209 72,259 697,886 32,400 144,800 28,100 1, 122,484 62,293 34,650 162,00) $2,202,488 $113,50 As you can tell from the financial statements, 2022 was an especially busy year. Tony and Suzle 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 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.) times b days C. d Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) Average collection period Inventory tumover ratio Average days in inventory Current ratio Acid-test ratio (Hint There are no current investments) Debt to equity ratio. Times interest earned ratio days to 1 e to 1 %6 9 fimes Prey 1 2 of 2 1 Next >
