The following income statement and balance sheets for Laser World are provided: LASER WORLD Income Statement For the year-ended December 31, 2021 Sales revenue $2,200,000 Cost of goods sold 1,500,000 Gross profit 700,000 Expenses: Operating expenses 350,000 Depreciation expense 70,000 Loss on sale of land 5,000 Interest expense 25,000 Income tax expense 60,000 Total expenses 510,000 Net income $ 190,000 LASER WORLD Balance Sheets December 31 2021 2020 $120,000 90,000 120,000 10,000 $112,080 70,000 100,000 10,000 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment 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 equity 260,000 350,000 (70,000) $ 880,000 200,000 210,000 (42,000) $660,000 $ 55,00 8,000 15,000 $ 75,000 7,080 12,000 400,000 300,000 200,000 202,600 $880,000 200,000 66,080 $660,000 Assuming that all sales were on account. calculate the following risk ratios for 2021 (Assume 365 days in a year. Round you Intermediate calculations and final answers to 1 decimal place. UE 400,000 300,000 LILOM LAN Paya Long-term liabilities: Notes payable Stockholders equity: Common stock Retained earnings Total liabilities and equity 200,000 202,000 $880,000 200,000 66,000 $660,000 Assuming that all sales were on account, calculate the following risk ratios for 2021 (Assume 365 days i intermediate calculations and final answers to 1 decimal place.): times days Gimes Risk Ratios Receivables turnover ratio Average collection period Inventory turnover ratio Average days in inventory Current ratio Acid-test ratio Debt to equity ratio Times interest eamed ratio days