Calculate the Inventory Turnover Ratio and Debt to equity ratio for the years 2024 and 2025.

Required information 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 incone 2025 $3,530,000 2024 $3,056,000 2,484,000 1,954,000 1,046,000 1,102,000 959,000 862,000 34,000 29,000 0 8,400 20,000 17,000 8,400 50,000 966,400 135,600 1,021,400 24,600 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2025 2024 2023 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Total assets $207,000 81,000 131,000 $190,000 85,000 $148,000 109,000 64,000 139,000 14,400 12,400 6,480 109,000 109,000 0 304,000 214,000 244,000 304,000 274,000 214,000 Less: Accumulated depreciation (109,000) (75,000) (46,000) $1,041,400 $918,400 $769,480 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $154,200 $70,000 $122,680 Interest payable 10,200 Income tax payable 12,400 6,800 17,000 3,400 14,400 Long-term liabilities: Notes payable 440,000 289,000 229,000 Common stock Stockholders' equity: Retained earnings 304,000 304,000 304,000 120,600 231,600 96,000 Total liabilities and stockholders' equity $1,041,400 $918,400 $769,480