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0 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 below. GREAT ADVENTURES, INC. Income statement For the year ended December 31, 2022 Net sales revenues $191,320 Interest revenue 380 Expenses: Cost of goods sold $39,800 Operating expenses 67,260 Depreciation expense 18,550 Interest expense 10,027 Income tax expense 15,800 Total expenses 151, 437 Net income $ 40,263 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2022 2021 $ 64,760 0 $ 291,664 49,940 9,600 1,260 5,540 0 760,000 865,000 88,780 (27,850) $2,038,294 53,000 18,650) $114,650 Assets Current assets Cash Accounts receivable Inventory Other current assets Long-ter 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 carnings Treasury stock Total liabilities and stockholders' equity 5 23,400 1,400 15,800 28,800 74,281 715,520 $ 3,320 B80 14,260 0 0 32,600 146,000 1,140,600 60,493 (268,000) $2,038,294 28,840 0 34.750 O $114,650 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.) b timos days times c. d 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 Interesteamed ratio days to 1 to 1 1 9 % times 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 % % % times % . d. e

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