Hequired Intormation The following information applies to the questions displayed below) Income statement and balance sheet data for The Athletic Attic are provided below THE ATHLETIC ATTIC Income Statements For the years ended December 31 2022 2021 Net sales ste.400.000 $8.90e.ee Ces of goods soto Gisee.ee450,000 Geus profit 3.600.000 3,450.00 Expenses Operating expenses 1,660,000 1 ,, Depreciation expense 20, 210.00 Interest expense 40,000 3,00 Income tax expense Total expenses 2240,00 $1,000 $1.23. na ETIC ATTIC Base Share Da 2920 Accounts receivable Trentory Supplies Long-term assets Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term Itabilities: Notes payable Stockholders equity 3225,000 64.000 24.000 990,000 10,000 1.725,000 des,800 75,000 110,000 10,00 85,900 1,100,000 1.150.000 1.158,00 COD 0903 420,698) 33,578,000 53.199.000 $3,124,000 91,600 5. 31,000 $ 175,00 $ 115,000 4,000 4,000 40,00 500,000 coe, eee 600,000 7ea, eee 2.251 $3,570,000 5), 199,000 600.000 700,000 Retained earning Total Habilities and stockholders' equity $3,124.ee 2822 2021 2020 $ 225.00 990, de 1,725.ee 13,000 $164,000 790.ee 1,405,600 11e, nes 5214. eee 818e 1,075, 85.ee 1,100,000 1600.ee) $3,578, Asses Current assets cash Accounts receivable Inventory Supplies Longeles assets: Equipment Less: Accumulated depreciatis Total assets Liabilities and Stockholders Equity Current liabilities: Accounts payable Interest payable Income tax payable Lorem labilities: Notes payable Stockholders equity: Comon stock Retaines earnings Total liabilities stockholders equity 1,15e.co 1,150,eee (420.ee) 210. 51.199.000 $3,124,000 S $ 175, 2.ee 91, $ 115, a 4.ee 3120 500,000 GeeBee cee, eee 500.000 2.251.00 74 3,570,000 $3,199.000 70. de 1,697 $1. 124, eee Required: 1 Calculate the following risk ratios for 2021 and 2022. (Round your answers to 1 decimal place.) Answer is complete but not entirely correct. Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio 2021 11.1 times 72 times 15,9 to 1 02 2022 11.7. times 663 times 14.00 0233 THE ATHLETIC ATTIC Balance Sheets December 31 2022 2820 Assets Current assets: $ 225, eee 990,00 1,725.000 130,00 $164.00 $ 214,888 790.ee 310, eee 1,485.000 1,075,880 110,000 85,00 100, eee 1,150,000 (600,000 (420,000) $3,570,000 $3,199,000 1150,000 210, eee) $3124.ee Accounts receivable Triventory Supplies Long-term assets Equipment Less Accumulated depreciation Total assets Liabilities and Stockholders Equity Current liabilities: Accounts payable Interest payable Income tak payable Long-term Ilabilities: Notes payable Stockholders equity: Connon stock Retained earnings Total 11 abilitiesneslokholdersequity $175.000 $ 91. 5. eee 31.ee 48,00 50,000 600. eee seeeee 251,000 5357.60 eeee 700, eee 1.744 1.697.ee 53.199.000 53. 124.ee 2 Calculate the following profitability ratios for 2021 and 2022: (Round your answers to 1 decimal place.) 2021 2022 38 % 34.6% Gross profit ratio Return on assets Profit margin Asset turnover times times Homework 06 A 9 THE ATHLETIC ATTIC Income Statements For the years moed December 11 Part of a $8.900,00 sie, ee.ee 6.100.000 3.600,000 2,430,000 Cost of goods solo Grons profit Expenses Operating expenses Depreciation expense Interest expense Income tax expense Total senses 1.tide, 21e, ce 1.600.000 200,000 40,000 4ee.ee 2,240,000 THE ATHLETIC ATTIG Balance Stats 2022 2023 2020 Assets Rele 5 225 662 164, 214, eee 810,000 1,725,000 1,405,000 1.075 13e. 11e.eee 35,000 1. lee, 15e.ee 1.100.000 Gee.600) E420,000 57.570,000 $3,199,000 $3,124.00 Accounts receive Supplies Long-terets Equipment Less: Accumulated deprecat Total assets Liabilities and stockholders Equity Current liabilities: Accounts payable Teterest payable Income tax payable Long-term Itabiles Nates payable Stockholders equity Common stock Retained earnings Total ties and stockholders' equity $ 175. eee 4,000 $115.ee 5 91.000 5,000 See.ee 600,000 GOO,000 600,000 700,00 700,00 124.000 1.697. $3,190,000 $3,124,000 $).570,00 Requtred: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) 2022 2e21 2820 $225,000 990, eee 1,725, eee 130, eee $164.ee 790,000 1,485, eee 110,000 $ 214, eee 810,00 1.075.eee 85, eee OK 1,100,eee (600,000 $3,578,888 1,150,000 (42e.eee) $3,199,eee 1,150,000 (210,000) $3, 124, eee Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: 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 $ 115, eee $ 175, eee 4,08 40, eee 91,600 5, eee 31,000 4e, eee nces 500,000 600,000 6e8,208 608,ese 2,251,888 $3,570.000 780,000 782.ee 1.744,00 1,697 eee $3,199,200 $3,124,808 Required: 1. Calculate the following risk ratios for 2021 and 2022 (Round your answers to 1 decimal place.) 2021 2022 times times times Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio times to 1 to 1 % THE ATHLETIC ATTIC Balance Sheets December 31 2022 2021 2020 $ 225, eee 990, eee 1.725,000 130,00 $164.ee 79e,ese 1,485, eee 110,eee $ 214.ee 818,000 1.075, eee 85.000 1,188, eee See, e88) $3,578, eee 1,150,000 1,150,eee (428,eee) (210, eee) $3,199,eee $3,124, eee Assets Current assets Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tak payable Long-term liabilities: Notes payable Stockholders equity: Common stock Retained earnings Total Habilities and stockholders! equity $ 175.ee $ 115, eee $ 91.00 Seee 31.000 4e, eee 48, eee See, eee 688,00 608.ee Gee, eee 27251.00 $3,570,00 1,744.ee $3,199.ee 760,000 1.697,eee $3,124, eee 2 Calculate the following profitability ratios for 2021 and 2022. (Round your answers to 1 decimal place.) 2021 2022 Gross profit ratio Return on assets - Profit margin Asset turnover times times