Required information [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 $195,500 Interest revenue 420 Expenses: Cost of goods sold Operating expenses Depreciation expense $40,000 69,700 18,750 10,526 16,000 Interest expense Income tax expense Total expenses 154,976 $ 40,944 Net income GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 Assets Current assets: $ 64,800 Cash 308,756 Accounts receivable 50,300 10,000 1,200 Inventory Other current assets 5,700 Long-term assets: Land 800,000 875,000 92,900 (28,250) Buildings Equipment Accumulated depreciation 55,000 (8,750) $2,109,906 $116,750 Total assets Liabilities and Stockholders' Equity Current liabilities: 9. 10 of 10 ..... $2,109,906 $116,750 Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable 23,800 1,500 16,000 30,000 2$ 3,400 900 14,300 Other current liabilities Notes payable (current) Notes payable (long-term) Stockholders' equity: 78,321 33,000 752,391 Common stock 150,000 1,17000, 60,894 (180,000) 30,200 Paid-in capital Retained earnings 34,950 Treasury stock Total liabilities and stockholders' equity $2,109,906 $116,750 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. 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.) Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) times a. Average collection period. days b. times Inventory turnover ratio. C. Average days in inventory. days d. Current ratio. to 1 e. Acid-test ratio. (Hint: There are no current investments) f. to 1 Debt to equity ratio. g. 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) Return on assets. a. b. Profit margin. (Hint: Use net sales revenues) C. Asset turnover. (Hint: Use net sales revenues) d. times Return on equity. e. ai