Question

Great Adventures Problem AP12-1 [The following information applies to the questions displayed below) Income statement and balance sheet data for Great Adventures, Inc., ore provided below. $193,410 GREAT ADVENTURES, INC. Income statenent For the year ended December 31, 2022 Net sales revenues Interest revenue Expenses: Cost of goods sold $39,900 Operating expenses 68,480 Depreciation expense 18,65e Interest expense 1e, 276 Income tax expense 15,980 Total expenses Net income 153,206 $ 40,684 GREAT ADVENTURES, INC. Balance Sheets December 31, 2022 and 2021 2021 $ $ 64,780 300,210 50, 120 9,8ee 1,180 5,62e 78e, eee 87e. 90,840 (28,ese) $2,074,100 54.ee (87) $115,70 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 $ 23.60 1.450 15,90 3.362 sse 14,280 76,301 733,955 29,52e 148,00 1,158,880 60,694 (174,000) $2,074,100 34,85e $115,700 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

Answer 1

CALACULATION OF RISK RATIOS :

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