December 31, 2021 and 2020 2021 2020 $ 144, 400 $ 82,000 97,000 4,200 122.000 94,000 82,000 2,200 500,000 500,000 810,000 690,000 (448,000) (288,000) $1,189,600 $1,202,200 Assets Current assets! Cash Accounts receivable Inventory Investments Long-term assets 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 Total liabilities and stockholders' equity $ $ 101,000 7,000 9,000 87,000 12,200 5,200 120,000 240,000 720,000 232,600 $1,189,600 720,000 137,800 $1,202,200 Additional information for 2021: 1. Net income is $94,800. 2. Sales on account are $1,592,800. 3. Cost of goods sold is $1,208,250. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.) times times Risk Ratios a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio e. Debt to equity ratio to 1 to 1 % The following condensed information is reported by Sporting Collectibles. 2021 2020 $9,612,000 $8,200,000 6,305,472 5,700,000 348,880 229,000 Income Statement Information Sales revenue Cost of goods sold Net income Balance Sheet Information Current assets Long-term assets Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $1,580,000 $1,480,000 2,180,000 1,880,000 $3,760,000 $3,360,000 $1,180,000 $ 880,000 1,520,000 1,520,000 780,000 780,000 280,000 180,000 $3,760,000 $3,360,000 Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) Profitability Ratios a Gross profit ratio b. Retum on assets c. Profit margin d. Asset tumover e. Retum on equity % % % times % 2. Determine the amount of dividends paid to shareholders in 2021. The amount of dividends paid