The following income statement and balance sheets for La LASER WORLD Income Statement For the year-ended December 31, 2021 Sales revenue $2,200,000 1,500,000 700,000 Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense 350,000 70,000 5,000 25,000 60,000 510,000 Loss on sale of land Interest expense Income tax expense Total expenses Net income 190,000 LASER WORLD Balance Sheets LASER WORLD Balance Sheets December 31 2021 2020 Assets Current assets: Cash $120,000 90,000 120,000 10,000 $112,000 70,000 100,000 10,000 Accounts receivable Inventory Prepaid rent Long-term assets: Land 1:41 200,000 210,000 260,000 Equipment Accumulated depreciation 350,000 (70,000) (42,000) Total assets $880,000 $660,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilitics: Notes payable Stockholders' equity: Common stock Retained carnings $ 55,000 8,000 15,000 $ 75,000 7,000 12,000 400,000 300,000 200,000 66,000 $660,000 200,000 202,000 Total liabilities and equity s, 000 11:18 Assuming that all sales were on account, calculate the following risk ratios for 2021 (Assume 365 days in a year. Round your Intermediate calculations and final answers to 1 decimal place.): Risk Ratios Receivables turnover ratio 1. times Average collection period 2. days 3. Inventory turnover ratio Average days in inventory times 4. days 5. Current ratio to 1 Acid-test ratio 6. to 1 7. Debt to equity ratio Times interest earned ratio 8. times