Problem 12-4B Calculate risk ratios (LO12-3) The following income statement and balance sheets for The Athletic Attic are provided. THE ATHLETIC ATTIC Income Statement For the year ended December 31, 2021 Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income $1,520,000 194,000 34,000 344,000 $8,740,000 5,370,000 3,370,000 2,092,000 $1,278,000 Assets Current assets: Cash Accounts receivable THE ATHLETIC ATTIC Balance Sheets December 31 Inventory Supplies. Long-term assets: Equipment Less: Accumulated depreciation 2021 2020 $ 148,000. 198,000 710,000 730,000 1,325,000 94,000 995,000 69,000 1,070,000 1,070,000 (388,000) (194,000)