Required information (The following information applies to the questions displayed below) Income statement and balance sheet data for The Athletic Attic are provided below. THE ATHLETIC ATTIC Income Statements For the years ended December 31 2022 2021 Net sales $11,660,000 $10,150,000 Cost of goods sold 7,610,000 6,300,000 Gross profit 4,050,000 3,850,000 Expenses Operating expenses 1,690,000 1,640,000 Depreciation expense 200,000 200,000 Interest expense 49,000 49,000 Income tax expense 508,000 440,000 Total expenses 2,447,000 2,329,000 Net Income $ 1,603,000 $ 1,521,000 THE ATHLETIC ATTIC Balance Sheets December 31 2022- 2021 2020 $ 234,000 999,000 1,734,000 139,000 $ 163,000 749,000 1,364,000 109,000 $ 222,000 769,000 1,034,000 84,000 1,460,000 1,460,000 (690,000) (490,000) $3,876,000 $3,355,000 1,460,000 (290,000) $3,279,000 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: Common stock Retained earnings Total liabilities and stockholders' equity $ 201,100 4,900 49,000 $ 132,000 0 44,000 $ 116,100 4,900 39,000 590,000 590,000 590,000 690,000 2,341,000 $3,876,000 690,000 1,899,000 $3,355,000 690,000 1,839,000 $3,279,000 Required: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) 2021 2022 times times times times Receivables tumover ratio Inventory turnover ratio Current ratio Debt to equity ratio to 1 to 1 % % 2. Calculate the following profitability ratios for 2021 and 2022: (Round your answers to 1 decimal place.) 2021 % 2022 % % % Gross profit ratio Return on assets Profit margin Asset turnover % times % times