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 $3,086,000 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 expende 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 Not income $ 33,000 $ 139,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2022 2021 2020 $ 216,000 90.000 140,000 15,000 $196,000 91,000 125,000 13,000 Assets Current assets Cash Accounts receivabla Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Least Accumulated depreciation Total assets Liabilities and stockholders' Equity $154,000 70,000 145.000 7,200 115,000 310.000 310.000 (124,000) $1,072.000 115,000 0 220.000 250,000 280,000 220.000 (84,000) (52,000) $946.000 $794,200 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2022 2021 2020 $ 216,000 90,000 140,000 15,000 $196,000 91,000 115,000 13,000 $154,000 70,000 145,000 7,200 Assets Current assets! Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total asseto 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 115,000 310,000 310,000 (124,000) $1,072.000 115,000 220,000 280,000 (84,000) $946.000 0 250,000 220.000 (52,000) $794,200 $ - 161,000 12,000 13,000 $ 76,000 8.000 20.000 $ 91,000 4,000 15,000 450,000 295,000 235,000 310,000 126,000 $1,072,000 310,000 237,000 $946,000 310,000 139,200 $794,200 Denuired Required: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio 2021 38.3 times 15.1 times 4.0 to 1 5.01% 2022 times times to 1 % (The following information applies to the questions displayed below.) 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 $3,086,000 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 $ Not 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 assets Investment in bonds Land Equipment Lesni Accumulated depreciation Total assets $216.000 90,000 140,000 15,0001 $196,000 91,000 115,000 13,000 $154,000 70,000 145,000 7,200 115,000 310.000 310,000 (124.000) 51,072.000 115,000 220,000 280,000 (84.000) 946,000 0 250.000 220,000 ($2,000) $794,200