roject #3 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 GREAT ADVENTURES, INC. Income Statement For the year ended December 31, 2022 Wet sales revenues Interest revenue Expenses Cost of goods sold Operating expenses Depreciation expense Interest expense 10.775 Income tax expense Total expenses 140, 10e Net income GREAT ADVENTURES, TN Balance Sheets December 31, 2022 20 Assets Current assets: Cash Accounts receivab Inventory Other current asse Long-Terassets Land 5 327,382 564,820 1,2205,78 130, (28.5) 52,145,712 (8.se) 5127,6 Equipment Accumulated depreciation Total assets abilities and Stockholders 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 52.145.712 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 Great Adventures Problem AP12-1 Part 1 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 days b. times days 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. times h 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.) Gross profit ratio. (Hint: Use net sales revenues) Return on assets Profit margin (Hint: Use net sales revenues) Assotturnover (Hint: Use net sales revenues) Return on equity