The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales Cost of goods sold Gross profit Expenses: Operating expenses $3,051,000 1,953,000 1,098,000 k $861,000 Depreciation expense Loss on sale of land 28,500 8,300 + Interest expense 16,500 Income tax expense 51,000 ces Total expenses Net income Assets Current assets: Cash 965,300 $ 132,700 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2021 2020 Accounts receivable $189,000 84,000 $147,000 63,000 Inventory Prepaid rent 108,000 138,000 12,300 6,360 Long-term assets: Investment in bonds 108,000 0 Land 213,000 243,000 Equipment 273,000 213,000 Less: Accumulated depreciation (73,500) (45,000) 10 6 points 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: eBook Common stock Ask Retained earnings Print Total liabilities and stockholders' equity References Required: 273,000 213,000 (73,500) (45,000) $913,800 $765,360 $ 69,000 6,600 16,500 $ 84,000 3,300 14,300 288,000 228,000 303,000 303,000 230,700 132,760 $913,800 $765,360 Assuming that all sales were on account, calculate the following risk ratios for 2021. (Use 365 days a year. Round your final answers to 1 decimal place.) Risk Ratios 1. Receivables turnover ratio 2. Average collection period times days 3. Inventory turnover ratio 4. Average days in inventory times days 5. Current ratio to 1 6. Acid-test ratio 7. Debt to equity ratio 8. Times interest earned ratio to 1 % times