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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	$	40,000
Operating expenses		69,700
Depreciation expense		18,750
Interest expense		10,526
Income tax expense		16,000
Total expenses					154,976
Net income				$	40,944

GREAT ADVENTURES, INC.
Balance Sheets
December 31, 2022 and 2021
	2022				2021
Assets
Current assets:
Cash	$	308,756			$	64,800
Accounts receivable		50,300				0
Inventory		10,000				0
Other current assets		1,200				5,700
Long-term assets:
Land		800,000				0
Buildings		875,000				0
Equipment		92,900				55,000
Accumulated depreciation		(28,250	)			(8,750	)
Total assets	$	2,109,906			$	116,750
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable	$	23,800			$	3,400
Interest payable		1,500				900
Income tax payable		16,000				14,300
Other current liabilities		30,000				0
Notes payable (current)		78,321				0
Notes payable (long-term)		752,391				33,000
Stockholders equity:
Common stock		150,000				30,200
Paid-in capital		1,177,000				0
Retained earnings		60,894				34,950
Treasury stock		(180,000	)			0
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.)

	a. Receivables turnover ratio. (Hint: Use net sales revenues for net credit sales) times b. Average collection period. days c. Inventory turnover ratio. times d. Average days in inventory. days e. Current ratio. to 1 f. Acid-test ratio. (Hint: There are no current investments) to 1 g. Debt to equity ratio. % h. Times interest earned ratio. 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. 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) times e. Return on equity. %

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