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Income statement and balance sheet data for virtual gaming systems are provided below. Calculate fhe following risk ratios for 2021 and 2022. lication.com/ext/map/index.html?_con-con&external_browser=0&launchurahttps%253A%252F%252Fims.mheducation.com work Saved
Income statement and balance sheet data for virtual gaming systems are provided below.
lication.com/ext/map/index.html?_con-con&external_browser=0&launchurahttps%253A%252F%252Fims.mheducation.com work Saved You received partial credit in the previous attempt. View pre Income statement and balance sheet data for Virtual Gaming Systems are provided below. VIRTUAL GAMING SYSTEMS Income Statements For the years ended December 31 2022 2021 Net sales $3,560,000 $3,0B6,000 Cost of goods sold 2,490,000 1,960,000 Gross profit 1,070,000 1.126,000 Expenses: Operating expenses 965,000 868,000 Depreciation expense 40,000 32,000 Loss on sale of land 0 9,000 Interest expense 23,000 20,000 Income tax expense 9,000 58,000 Total expenses 1,037,000 987,000 Net income $ 33,000 $ 139,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2022 2021 2020 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assetst Investment in bonds Land Eauonent $216,000 $196,000 $154,000 90,000 91.000 70,000 140,000 115,000 145,000 000 13,000 200 115,000 310,000 310.000 115,000 220,000 280.000 250,000 220.000 Prey 1 2 of 2 : Next > u otv Aa 111 MacBook Air 80 F3 DD 888 F4 oo 17 I: F2 (a # % & Check my work mode: This shows what is correct or incorrect for the work you have completed so far. I den 10, 10,000 220.00 1.000.000 17.10) 31.012.118.000 3.206 gen LARI Melated precision Total asset Les and Stockholders' quity Currealities Orale et payable Income tax payable Long-ters Test wote payable Shades wity con stock Batandang total Lilities wity 11.000 175.000.000 13.010 3.000 3,000 13.000 20.000 15,00 450.000 295.000 235.900 10 319.30 310.000 11.000 1.100 1.100 11.072.00 18.000, Required: 1. Calculate the following risk ratios for 2021 and 2022. Round your answers to I decimat place) Answer is complete but not entirely correct. 2021 2022 Recebis move to 13 393 Inventory 151 195 Cuentato 40 1 25 Debt to style 801 12140 Prey of 2 Next > MacBook Air 20 - 3: : : & $ 4 % 5 O 6 3 8 09 7 2 E W Y U m 20 Y S D GHJ Z C V N B H command lication.com/ext/map/index.html?_con-con&external_browser=0&launchurahttps%253A%252F%252Fims.mheducation.com work Saved You received partial credit in the previous attempt. View pre Income statement and balance sheet data for Virtual Gaming Systems are provided below. VIRTUAL GAMING SYSTEMS Income Statements For the years ended December 31 2022 2021 Net sales $3,560,000 $3,0B6,000 Cost of goods sold 2,490,000 1,960,000 Gross profit 1,070,000 1.126,000 Expenses: Operating expenses 965,000 868,000 Depreciation expense 40,000 32,000 Loss on sale of land 0 9,000 Interest expense 23,000 20,000 Income tax expense 9,000 58,000 Total expenses 1,037,000 987,000 Net income $ 33,000 $ 139,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2022 2021 2020 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assetst Investment in bonds Land Eauonent $216,000 $196,000 $154,000 90,000 91.000 70,000 140,000 115,000 145,000 000 13,000 200 115,000 310,000 310.000 115,000 220,000 280.000 250,000 220.000 Prey 1 2 of 2 : Next > u otv Aa 111 MacBook Air 80 F3 DD 888 F4 oo 17 I: F2 (a # % & Check my work mode: This shows what is correct or incorrect for the work you have completed so far. I den 10, 10,000 220.00 1.000.000 17.10) 31.012.118.000 3.206 gen LARI Melated precision Total asset Les and Stockholders' quity Currealities Orale et payable Income tax payable Long-ters Test wote payable Shades wity con stock Batandang total Lilities wity 11.000 175.000.000 13.010 3.000 3,000 13.000 20.000 15,00 450.000 295.000 235.900 10 319.30 310.000 11.000 1.100 1.100 11.072.00 18.000, Required: 1. Calculate the following risk ratios for 2021 and 2022. Round your answers to I decimat place) Answer is complete but not entirely correct. 2021 2022 Recebis move to 13 393 Inventory 151 195 Cuentato 40 1 25 Debt to style 801 12140 Prey of 2 Next > MacBook Air 20 - 3: : : & $ 4 % 5 O 6 3 8 09 7 2 E W Y U m 20 Y S D GHJ Z C V N B H command Calculate fhe following risk ratios for 2021 and 2022.
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