Required information [The following information applies to the questions displayed below.] Income statement and balance sheet data for The Athletic Attic are provided below. Net sales THE ATHLETIC ATTIC Income Statements For the years ended December 31 Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Interest expense 2022 2021 $10,680,000 $9,100,000 6,980,000 5,600,000 3,700,000 3,500,000 1,620,000 1,570,000 200,000 42,000 424,000 2,286,000 200,000 42,000 370,000 2,182,000 $1,318,000 Income tax expense $ 1,414,000 Total expenses Net income THE ATHLETIC ATTIC Balance Sheets December 31 2022 2021 2020 Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: $ 227,000 992,000 1,727,000 132,000 $ 156,000 $ 208,000 742,000 1,357,000 102,000 1,180,000 1,180,000 (620,000) $3,638,000 (420,000) $3,117,000 762,000 1,027,000 77,000 1,180,000 (220,000) $3,034,000 $ 180,800 $ 111,000 4,200 0 $ 88,800 4,200 42,000 37,000 32,000 520,000 520,000 520,000 Common stock Retained earnings 620,000 2,271,000 620,000 620,000 1,829,000 1,769,000 Total liabilities and stockholders' equity $3,638,000 $3,117,000 $3,034,000 Required: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio 2021 2022 times times times times to 1 to 1 % %