Required information [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 Income Statements For the years ended December 31 2022 2021 $3,545,000 2,487,000 1,058,000 $3,071,000 1,957,000 1,114,000 Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense 962,000 37,000 865,000 30,500 8,700 18,500 51,500 974,200 Loss on sale of land Interest expense 21,500 8,700 1,029,200 Income tax expense Total expenses $ $ 28,800 139,800 Net income VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2021 2022 2020 Assets Current assets: $151,000 67,000 142,000 6,840 $193,000 88,000 112,000 12,700 Cash $ 211,500 85,500 135,500 14,700 Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds 112,000 307,000 307,000 (116,500) 112,000 217,000 277,000 0 Land 247,000 217,000 (49,000) Equipment Less: Accumulated depreciation (79,500) $1,056,700 $932,200 $781,840 Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable $73,000 7,400 18,500 $129,940 3,700 14,700 $ 132,600 11,100 12,700 Long-term liabilities: Notes payable 470,000 292,000 232,000 equity: Stockholders' Common stock 307,000 307,000 307,000 Retained earnings 123,300 94,500 234,300 Total liabilities and stockholders' equity $1,056,700 $932,200 $781,840 Required: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) 2021 2022 Receivables turnover ratio times times Inventory turnover ratio times times Current ratio to 1 to 1 Debt to equity ratio %