Income statements and balance sheets data for Virtual Gaming Systems are provided below. VIRTUAL GAMING SYSTEMS Income Statements For the years ended December 31 2022 2021 Net sales $3,500,000 $3,026,000 Cost of goods sold 2,478,000 1,948,000 Gross profit 1,022,000 1,078,000 Expenses : Operating expenses 953,000 856,000 Depreciation expense 28,000 26,000 Loss on sale of land 0 7,800 Interest expense 17,000 14,000 Income tax expense 7,800 47,000 Total expenses 1,005,800 950, 800 Net income $ 16,200 $ 127,200 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2022 2021 2020 $ 200,000 74,000 124,000 13,800 $184,000 79,000 103,000 11,800 $142,000 58.000 133,000 5,760 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets Investment in bonds 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 103,000 298,000 298,000 (94,000) $1,016,800 103,000 208,000 268,000 (66,000) $890,800 0 238,000 208,000 (40,000) $744,760 $ 203,400 8.400 11,800 $ 64,000 5,600 14,000 $108, 160 2,800 13,800 380,000 283,000 223,000 298,000 115,200 $1,016,800 298,000 226,200 $890, 800 298,000 99,000 $744,760 Required: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) 2022 2021 times times times Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio to 1 % times to 1 % 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