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 $2,996, eee Cost of goods sold 1,942,90 Gross profit 1,854,690 Expenses : Operating expenses $850,eee Depreciation expense 23,000 Loss on sale of land 7,200 Interest expense 11,eee Income tax expense 40,000 Total expenses 931,280 Net income $ 122,888 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2021 2020 $178,888 73,000 97,880 11,200 $136,eee 52,80 127,680 5,840 97,000 282,eee 262,00 (57,980) $863,200 232,690 2e2,000 (34,080) $720,640 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 $ 58,00 4,480 11,080 $ 73,000 2,200 13,280 277,280 217,600 292,800 220, 880 $863, 280 292,80 122,640 $720,840 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 times days times days 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 to 1 to 1 96 times