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 1,570,000 Gross profit 660,000 Expenses: Operating expenses 349,000 Depreciation expense 70,000 Loss on sale of land 4,300 Interest expense 23,000 Income tax expense 59,000 Total expenses 505,300 Net income $ 154,700 2020 $108,000 78,000 160,000 16,000 LASER WORLD Balance Sheet December 31 2021 Assets Current assets: Cash $ 121,000 Accounts receivable 95,000 Inventory 180,000 Prepaid rent 16,000 Long-term assets: Land 330,000 Equipment 340,000 Accumulated depreciation (73,000) Total assets $1,009,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 58,000 Interest payable 8,900 Income tax payable 15,800 Long-term liabilities: Notes payable 330,000 Stockholders' equity: Common stock 170,000 Retained earnings 426,300 Total liabilities and equity $1,009,000 270,000 290,000 (47,000) $875,000 $ 58,000 7,900 12.800 230,000 170,000 396,300 $875,000 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.) 2. Risk Ratios 1. Receivables turnover ratio Average collection period Inventory turnover ratio Average days in inventory 5. Current ratio Acid-test ratio Debt to equity ratio Times interest earned ratio times days times days to 1 to 1 7. times