1 ort 1 of 2 bints Required information Problem 12-6A Use ratios to analyze risk and profitability (LO12-3, 12-4) [The following information applies to the questions displayed below.] Income statements and balance sheets data for Virtual Gaming Systems are provided below. VIRTUAL GAMING SYSTEMS Income Statements For the years ended December 31 eBook Print References Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income 2022 2021 $3,530,000 $3,056,000 2,484,000 1,954,000 1,046,000 1,102,000 959,000 862,000 34,000 29,000 e 8,400 20,000 17,000 8,400 50,000 1,021,400 966,400 $ 24,600 $ 135,600 VIRTUAL GAMING SYSTEMS 1 Part 1 of 21 3 points) Book Print References Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Balance Sheets December 31 Total liabilities and stockholders' equity 2022 2021 2020 $ 207,000 81,000 131,000 $190,000 85,000 109,000 $148,000 64,000 139,000 14,400 12,400 6,480 109,000 109,000 214,000 304,000 304,000 274,000 214,000 244,000 (109,000) (75,000) (46,000) $1,041,400 $918,400 $769,480 $ 154,200 10,200 12,400 $ 70,000 6,800 17,000 $122,680 3,400 14,400 440,000 289,000 229,000 304,000 120,600 304,000 304,000 231,600 96,000 $1,041,400 $918,400 $769,480 Part 1 of 2 3 points Problem 12-6A Part 1 Required: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) eBook Receivables turnover ratio Inventory turnover ratio Print References Current ratio Deol to equity ratio 2021 2022 times times times times to 1 to 1 % % Part 2 of 2 3 points Problem 12-6A Part 2 2. Calculate the following profitability ratios for 2021 and 2022: (Round your answers to 1 decimal place.) 2021 2022 eBook Gross profit ratio % % Print Return on assets % % References Profit margin % % Asset turnover times times