The following income statement and balance sheets for The Athletic Attic are provided. THE ATHLETIC ATTIC Income Statement For the Year Ended December 31, 2024 Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income $1,500,000 190,000 30,000 340,000 THE ATHLETIC ATTIC Balance Sheets: December 31 $8,700,000 5,350,000 3,350,000 2,060,000 $1,290,000 2024 2023 Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: Equipment $144,000 690,000 $194,000 710,000 1,305,000 975,000 90,000 65,000 1,050,000 1,050,000. Less: Accumulated depreciation (380,000) (190,000) Total assets $2,899,000 $2,804,000 Liabilities and Stockholders' Equity rent Hashilities Long-term assets: Equipment Less: Accumulated depreciation 1,050,000 (380,000) Total assets $2,899,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 1,050,000 (190,000) $2,804,000 Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Required: $95,000 $71,000 0 30,000 3,000 29,000 400,000 400,000 500,000 500,000 1,874,000 $2,899,000 1,801,000 $2,804,000 Assuming that all sales were on account, calculate the following risk ratios for 2024. (Use 365 days a year. Round your final answers to 1 decimal place.) Risk Ratios 1. Receivables tumover ratio 2. Average collection period times days 3. Inventory turnover ratio. times 4. Average days in inventory days 5. Current ratio 6. Acid-test ratio 7. Debt to equity ratio % 8 Times interest earned ratio times < Prev 10 of 11 Next >