The following income statement and balance sheets for The Athletic Attic are provided THE ATHLETIC ATTIC Income Statement For the year ended December 31, 2021 Net soles 58,710,000 Cost of goods sold 5,355,000 Gross profit 3,355,000 Expenses: Operating expenses $1,585,800 Depreciation expense 191,000 Interest expense 31,000 Income tax expense 341,000 Total expenses 2.068,000 Net Income $1,287,888 THE ATHLETIC ATTIC Balance Sheets December 31 2021 2020 $ 145,000 695,000 1,310,000 91,000 $ 195,000 715,000 988,000 66,000 1,055,000 (382,000) $2,914,000 1,055,000 (191,000) $2,828,000 Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 5 96,000 $ 72,000 3,100 29,108 30,500 410,000 410,000 519,800 1,867,500 52,914,000 510,000 1,795,800 $2,820,000 Required: Assuming that all sales were on account, calculate the following risk ratios for 2021 (Use 365 days a year. Round your Intermediate and final answers to 1 decimal place.) Required: Assuming that all sales were on account, calculate the following risk ratios for 2021 (Use 365 days a year. Round your Intermediate 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