Common stock 307,600 307,060 Retained earnings 234,300 136,440 Total liabilities and stockholders' equity $932,200 $/81,840 Required: Assuming that all sales were on account, calculate the following risk ratios for 2021, (Use 365 days a year, Round your final answers to 1 decimal place.) Risk Ratios Receivables turnover ratio times Average collection period days Inventory turnover ratio times Average days in inventory days Current ratio 10 1 Acid test ratio 16 1 1 Debt to equity ratio Times interest earned ratio limes References Worksheet Difficulty & Hard Learning Objective 12:03 Use ratios to analyze a company'VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales $3,071,000 Cost of goods sold 1,957,000 Gross profit 1, 114,000 Expenses: Operating expenses $865,000 Depreciation expense 30,500 Loss on sale of land 8.700 Interest expense 18,500 Income tax expense 55,000 Total expenses 977,700 Net income $ 130,300 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2021 2020 Assets Current assets: Cash $193,000 $151,000 Accounts receivable 88,000 67,000 Inventory 112,000 142,000 Prepaid rent 12,700 6,840 Long-term assets Investment in bonds 112,000 Land 217,000 247,000 Equipment 277,000 217,000 Less Accumulated depreciation (79,500) (49,000) Total assets $932 200 $781,840 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 73,000 $ 88,000 Interest payable 7,400 3,700 Income tax payable 18,500 14,700 Long-term liabilities Notes payable 292.000 232,000 Stockholders' equity Common stock 307 000 307 000 Retained earnings 234 300 136.440 Total liabilities and stockholders' equity $932 200 $781 840 Required: Assuming that all sales were on account, calculate the following risk ratios for 2021. (Use 365 days a year. Round your final answers to 1 decimal place.)