please explain calculations with the answer, thank you!

[The following information apples 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 2821 Net sales $3,560,000 $3,036, een Cost of goods sold 2,490, eee 1,96eeee Gross profit 1,270, eee 1,126, eee Expenses: Operating expenses 965,00 868, dee , Depreciation expense 40,000 32,000 Loss on sale of land e 9,00 Interest expense 23,00 20, eee Income tax expense 9, cee 58. eee Total expenses 1.037.000 987.000 Net income 5 33,00 $ 139,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2022 2021 2020 $ 216,000 90, e 140, eee 15,000 $196,000 $154,000 91,000 7,800 115,000 145,00 13, eee 7,200 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-ters 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: Notas payable Stockholders' equity! Comon stock Ratained earnings Total liabilities and stockholders' equity 115,000 115,000 310,000 220,00 250,00 319.cee 280, 220.ece (124.000) (84, 52,000) $1,272,000 $946,000 $794,200 $ 161,000 $75,eee 22, eee 3,000 13,000 20.00 $91,00 4,000 25,000 450, eee 295,000 235.000 310.00 310.00 310.000 126,00 237.000 139,200 $1,272,000 $946.000 $794,200 Problem 12-6A Part 1 Required: 1. Calculate the following ask ratios for 2021 and 2022: (Round your answers to 1 decimal place.) 2021 2022 Bienes times times Recevable moverrato Inventory umover ratio Current Debto quity rabi 101