Games Galore has provided its condensed financial statements for the year ended December 31. The Controller has asked you to calculate liquidity, solvency, and profitability ratios that management can use decision making. \begin{tabular}{lr} Income Statement & \\ \hline Net Sales (all on account) & $3,031,000 \\ Cost of Goods Sold & 1,949,000 \\ \hline Gross Profit & 1,082,000 \\ \hline Operating Expenses & 891,400 \\ \hline Income from Operations & 190,600 \\ Interest Expense & 14,500 \\ \hline Income before Income Tax Expense & 176,100 \\ \hline Income Tax Expense & 47,000 \\ \hline Net Income & $129,100 \\ \hline \end{tabular} \begin{tabular}{l|r|r} \hline Balance Sheet & 2022 & 2021 \\ \hline Cash & $185,000 & $143,000 \\ \hline Accounts Receivable, Net & 80,000 & 59,000 \\ \hline Inventory & 104,000 & 134,000 \\ \hline Prepaid Insurance & 11,900 & 5,880 \\ \hline Total Current Assets & 380,900 & 341,880 \\ \hline Property and Equipment, Net & 514,500 & 407,000 \\ \hline Total Assets & $895,400 & $748,880 \\ \hline Current Liabilities & $85,300 & $96,800 \\ \hline Long-term Liabilities & 284,000 & 224,000 \\ \hline Total Liabilities & 369,300 & 320,800 \\ \hline Contributed Capital & 299,000 & 299,000 \\ \hline Retained Earnings & 227,100 & 129,080 \\ \hline Total Stockholders' Equity & 526,100 & 428,080 \\ \hline Total Liabilities and Stockholders' Equity & $895,400 & $748,880 \\ \hline \end{tabular} Required: Compute the following liquidity ratios for 2022. Round to the required number of decimal places using the Excel =ROUND function Current ratio (rounded to one decimal place) Accounts receivable turnover (rounded to two decimal places) Average collection period (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) Average days in inventory (rounded to the nearest whole day) \begin{tabular}{|l|l|} & \\ times \\ days \\ times \\ days \end{tabular} Compute the following Solvency Ratios for 2022. Round to the required number of decimal places using the Excel =ROUND function Debt to equity ratio (" %" format, rounded to one decimal place) Times interest earned (rounded to one decimal place) \begin{tabular}{|l|l|} \hline & \\ \hline \end{tabular} Compute the following Profitability Ratios for 2022. Round to the required number of decimal places using the Excel =ROUND function Profit margin ratio ("\%" format, rounded to one decimal place) Gross margin ratio ("\%" format, rounded to one decimal place)