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 sales $8,830,000 Cost of goods sold 5,415,000 Gross profit 3,415,000 Expenses: Operating expenses $1,565,000 Depreciation expense 203,000 Interest expense 43,000 Income tax expense 353,000 Total expenses 2,164,000 Net income $1,251,000 THE ATHLETIC ATTIC Balance Sheets December 31 2021 2020 $ 157,000 755,000 1,370,000 103,000 $ 207,000 775,000 1,040,000 78,000 1,115,000 (406,000) $3,094,000 1,115,000 (203, 000) $3,012,000 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 $ 108,000 $ 84,000 4,300 30, 300 36,500 530,000 530,000 630,000 1,789,500 $3,094,000 630,000 1,733,400 $3,012,000 GIRT WORK 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.) times days times 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 days to 1 to 1 % times