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 $2,240,000 Cost of goods sold 1,510,000 Gross profit 730,000 Expenses: Operating expenses 350,000 Depreciation expense 60,000 Loss on sale of land 4,100 Interest expense 22,000 Income tax expense 52,000 Total expenses 488,100 Net Income $ 241,900 LASER WORLD Balance Sheet December 31 2021 2020 Assets Current assets: Cash $ 125,000 $109,000 Accounts receivable 100,000 77,000 Inventory 190,000 170,000 Prepaid rent 15,000 15,000 Long-term assets: Land 340,000 280,000 Equipment 310,080 260,000 Accumulated depreciation (70,000) (49,000) Total assets $1,010,000 $862,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 52,000 $ 55,000 Interest payable 8,500 7,500 Income tax payable 15,000 12,500 Long-term liabilities: Notes payable 310,620 210,000 Stockholders' equity: Common stock 160,000 168,000 Retained earnings 464,500 417,000 Total liabilities and equity 51,010,000 $862,000 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.) 3 Risk Ratios 1 Receivables turnover ratio 2 Average collection period Inventory turnover ratio Average days in inventory Current ratio 6. Acid-test ratio 7 Debt to equity ratio 8. Times interest earned ratio times days times days to 1 4. 5 to 1 times