Balance Sheets December 31, 2018 and 2017 2017 2018 Assets Current assets Cash $ 198,000 112,000 62,000 87,000 3,200 Accounts receivable 84,000 72,000 1,200 Inventory Investments Long-term assets Land 400,000 710,000 (348,000) 400,000 590,000 (188,000) Equipment Less: Accumulated depreciation $ 1,112,200 $ 1,071,200 Total assets Liabilities and Stockholders' Equity Current liabilities $ 91,000 $ 77,000 5,000 7,000 Accounts payable Interest payable Income tax payable Long-term liabilities Notes payable Stockholders' equity: Common stock Retained earnings 11,200 4,200 200,000 100,000 620,000 289,200 620,000 158,800 $ 1,112,200 $ 1,071,200 Total liabilities and stockholders' equity Additional information for 2018 1. Net income is $130,400 2. Sales on account are $1,248,300 3. Cost of goods sold is $993,750 Required: 1. Calculate the following risk ratios for 2018: (Round your answers to 1 decimal place.) Risk Ratios a. Receivables turnover ratio times b. Inventory turnover ratio times to 1 C. Current ratio to 1 d. Acid-test ratio e. Debt to equity ratio