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Required information Problem 12-6A Use ratios to analyze risk and profitability (LO12-3,12-4) [The following information applies to the questions displayed below.] Income statements and balance
Required information Problem 12-6A 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: VIRTUAL GAMING SYSTEMS Balance Sheets December 31 Assets 20222021 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-tern liabilities: Notes payable Stockholders' equity: Common stock 2. Calculate the following profitability ratios for 2021 and 2022: (Round your answers to 1 decimal place.)
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