Income statements and balance sheets data for Virtual Gaming Systems are provided below. VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Expenses: 2025 $3,515,000 2024 $3,041,000 2,481,000 1,951,000 1,034,000 1,090,000 Operating expenses 956,000 859,000 Depreciation expense 31,000 27,500 Loss on sale of land 0 8,100 Interest expense 18,500 15,500 Income tax expense 8,100 48,500 Total expenses Net income 1,013,600 958,600 20,400 131,400 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2025 2024 2023 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment $202,500 $187,000 $145,000 76,500 82,000 61,000 126,500 106,000 136,000 14,100 12,100 6,120 106,000 106,000 0 301,000 211,000 241,000 301,000 271,000 211,000 Less: Accumulated depreciation (101,500) (70,500) (43,000) Total assets $1,026,100 $904,600 $757,120 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $175,800 $67,000 $115,420 Interest payable 9,300 6,200 3,100 Income tax payable 12,100 15,500 14,100 Long-term liabilities: Notes payable Stockholders' equity: 410,000 286,000 226,000 Common stock 301,000 301,000 301,000 Retained earnings 117,900 228,900 97,500 Total liabilities and stockholders' equity $1,026,100 $904,600 $757,120 Required: 1. Assuming that all sales were on account, calculate the following risk ratios for 2024 and 2025: (Round your answers to 1 decimal place.) Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio 2024 2025 times times times times % % 2. Calculate the following profitability ratios for 2024 and 2025: (Round your answers to 1 decimal place.) 2024 2025 Gross profit ratio % % Return on assets % % Profit margin Asset turnover % % times times