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: $ 229,000 $ 158,000 $ 212,000 994,000 1,729,000 744,000 1,359,000 134,000 104,000 764,000 1,029,000 79,000 1,260,000 1,260,000 1,260,000 (640,000) (440;000) (240,000) $3,706,000 $3,185,000 $3,104,000 $ 186,600 4,400 $ 117,000 $ 96,600 0 4,400 44,000 39,000 34,000 540,000 540,000 540,000 Common stock 640,000 640,000 640,000 Retained earnings 2,291,000 1,849,000 1,789,000 Total liabilities and stockholders' equity $3,706,000 $3,185,000 $3,104,000 Net sales THE ATHLETIC ATTIC Income Statements For the years ended December 31 2022 Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income $10,960,000 2021 $9,400,000 7,160,000 5,800,000 3,800,000 3,600,000 1,640,000 1,590,000 200,000 200,000 44,000 44,000 448,000 390,000 2,332,000 2,224,000 $ 1,468,000 $1,376,000 Problem 12-6B Part 1 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 % %