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please show work Problem 12-6A (Algo) Use ratios to analyze risk and profitability (LO12-3, 12-4) [The following information applies to the questions displayed below.] Income
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Problem 12-6A (Algo) Use ratios to analyze risk and profitability (LO12-3, 12-4) [The following information applies to the questions displayed below.] Income statements and balance sheets data for Virtual Gaming Systems are provided below. Net income VIRTUAL GAMING SYSTEMS Balance Sheets December 31 202520242023 Assets Current assets: Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets \begin{tabular}{ccr} 102,000 & 102,000 & 0 \\ 297,000 & 207,000 & 237,090 \\ 297,000 & 267,000 & 207,090 \\ (91,500) & (64,500) & (39,000) \\ \hline$1,014,700 & $886,200 & $740,640 \\ \hline \end{tabular} Liabilities and Stockholders' Equity Current 1iabilities: Accounts payable Interest payable Income tax payable Long-teri liabilities: Notes payable Stockholdens' equity: Common stock Retained earnings Total 14abilities and stockholders' equity 2. Calculate the following profitability ratios for 2024 and 2025: (Round your answers to 1 decimal place.) Step by Step Solution
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