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 $2,230,000 Cost of goods sold 1,590,000 Gross profit 640,000 Expenses : Operating expenses 346,000 Depreciation expense 67,000 Loss on sale of land 4,700 Interest expense 21,000 Income tax expense 59,000 Total expenses 497, 700 Net income $ 142,300 LASER WORLD Balance Sheet December 31 2021 2020 $ 126,000 98,000 210,000 18,000 $ 107,000 79,000 190,000 18,000 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders equity: Common stock Retained earnings Total liabilities and equity 360,000 330,000 (80,000) $1,062,000 Equity 300,000 280,000 (43,000) $931,000 $ 59,000 8,400 15,800 $ 55,000 7,400 12,800 380,000 280,000 130,000 468,800 $1,062,000 130,000 445,800 $931,000 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 1. Receivables turnover ratio 2. Average collection period 3. Inventory turnover ratio 4. Average days in inventory 5. Current ratio 6. Acid-test ratio 7. Debt to equity ratio 8. Times interest earned ratio times days times days to 1 to 1 % times