Required information [The following information applies to the questions displayed below.] Income statement and balance sheet data for Great Adventures, Inc., are provided below. $166, 240 140 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses: Cost of goods sold $38,600 Operating expenses 52,620 Depreciation expense 17,350 Interest expense 7,034 Income tax expense 14,600 Total expenses Net income 130,204 $ 36,176 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ $ 64,520 189,114 47,780 7,200 920 4,580 520,000 805,000 64,060 (25,450) $1,608,624 41,000 (8,050) $102,050 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: Common stock Paid-in capital Retained earnings Treasury stock Total liabilities and stockholders' equity $ 2,840 760 21,000 800 14,600 21,600 50,034 494,304 14,020 30,200 20,680 122,000 922,200 58,086 (96,000) $1,608,624 33,550 0 $102,050 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.) Answer is complete but not entirely correct. a. b. Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) Average collection period. Inventory turnover ratio. Average days in inventory. Current ratio. Acid-test ratio. (Hint: There are no current investments) Debt to equity ratio. Times interest earned ratio. 7.0 times 52.1 days 10.7 times 34.1 days 6.7 X to 1 6.7 X to 1 57.7 % % 8.2 times h. 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. c. d. e. 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. oo times