ncome 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				$	178,780
Interest revenue					260
Expenses:
Cost of goods sold	$	39,200
Operating expenses		59,940
Depreciation expense		17,950
Interest expense		8,530
Income tax expense		15,200
Total expenses					140,820
Net income				$	38,220

GREAT ADVENTURES, INC.
Balance Sheets
December 31, 2022 and 2021
	2022				2021
Assets
Current assets:
Cash	$	240,390			$	64,640
Accounts receivable		48,860				0
Inventory		8,400				0
Other current assets		1,040				5,060
Long-term assets:
Land		640,000				0
Buildings		835,000				0
Equipment		76,420				47,000
Accumulated depreciation		(26,650	)			(8,350	)
Total assets	$	1,823,460			$	108,350
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable	$	22,200			$	3,080
Interest payable		1,100				820
Income tax payable		15,200				14,140
Other current liabilities		25,200				0
Notes payable (current)		62,157				0
Notes payable (long-term)		604,913				31,400
Stockholders equity:
Common stock		134,000				24,760
Paid-in capital		1,031,400				0
Retained earnings		59,290				34,150
Treasury stock		(132,000	)			0
Total liabilities and stockholders equity	$	1,823,460			$	108,350

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.

1. Calculate the following risk ratios for 2022.

a. Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales)

b. Average collection period.

c. Inventory turnover ratio.

d. Average days in inventory.

e. Current ratio.

f. Acid-test ratio. (Hint: There are no current investments)

g. Debt to equity ratio.

h. Times interest earned ratio.

2. Calculate the following profitability ratios for 2022.

a. Gross profit ratio. (Hint: Use net sales revenues)

b. Return on assets.

c. Profit margin. (Hint: Use net sales revenues)

d. Asset turnover. (Hint: Use net sales revenues)

e. Return on equity.