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 $8,730,000 Cost of goods sold 5,365,000 Gross profit 3,365,000 Expenses: Operating expenses $1,515,000 Depreciation expense 193,000 Interest expense 33,000 Income tax expense 343,000 Total expenses 2,084,000 Net income $1,281,000 es THE ATHLETIC ATTIC Balance Sheets December 31 2021 2020 Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: $ 147,000 705,000 1,320,000 93,000 197,000 725,000 990,000 68,000 1,065,000 (386,000 $2,944,000 1,065,000 (193,000) $2,852,000 $2,944,000 $2,852,000 $ $ 98,000 0 31,500 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 74,000 3,300 29, 300 430,000 430,000 530,000 1,854,500 $2,944,000 530,000 1,785,400 $2,852,000 Required: Assuming that all sales were on account, calculate the following risk ratios for 2021. (Use 365 days a yea 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