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 $2,290,000 Cost of goods sold 1,520,000 Gross profit 770,000 Expenses : Operating expenses 345,000 Depreciation expense 61,000 Loss on sale of land 5,000 Interest expense 23,000 Income tax expense 53,000 Total expenses 487,000 Net income $ 283,000 2020 $107,000 75,000 140,000 18,000 LASER WORLD Balance Sheet December 31 2021 Assets Current Assets Cash $127,000 Accounts receivable 92,000 Inventory 160,000 Prepaid rent 18,000 Long-term assets: Land 280,000 Equipment 260,000 Accumulated depreciation (73.000) Total aseta $864,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 57,000 Interont payable 8,600 Income tax payable 15,300 Long-term liabilities Notes payable 360.000 220,000 210,000 (42,000) $728,000 $ 56,000 7,600 12,600 260,000 ZZU, UUU 210,000 (42,000) $728,000 Lana 2 80 000 Equipment 260,000 Accumulated depreciation (73,000) Total assets $864,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable S 57,000 Interest payable 8,600 Income tax payable 15,300 Long-term liabilities: Notes payable 360,000 Stockholders equity! Common stock 150,000 Ratained earnings 273,100 Total liabilities and equity $864,000 $ 56,000 7,600 12,600 260,000 150,000 241,800 $728,000 Assuming that all sales were on account, calculate the following risk ratios for 2021: (Assume 365 days in a yea Intermediate calculations and final answers to 1 decimal place.) Risk Ratios 1. Receivables turnover ratio 2. Average collection period 3 Inventory tumover ratio 4 Average days in inventory 5 Current ratio 6 Acid-test ratio 7 Debt to oquity ratio 8 Times interest earned ratio times days times days to 1 to 1 % times