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 $3,046,000 Cost of goods sold 1,952,000 Gross profit 1,094,000 Expenses: Operating expenses $860,000 Depreciation expense 28,000 Loss on sale of land 8,200 Interest expense 16,000 Income tax expense 50,000 Total expenses 962,200 Net income $ 131,800 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2021 2020 $ 188,000 83,000 107,000 12,200 $146,000 62,000 137,000 6,240 107,000 212,000 272,000 (72,000) $909,200 242,000 212,000 (44,000) $761,240 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 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 $ 68,000 6,400 16,000 $ 83,000 3,200 14,200 287,000 227,000 302,000 229,800 $909,200 302,000 131,840 $761,240 Required: 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 Inventory turnover ratio 4. Average days in inventory Current ratio Acid-test ratio 7. Debt to equity ratio 8. Times interest earned ratio times days times days to 1 to 1 times