The following income statement and balance sheets for Virtual Gaming Systems are provided.

Need help:

7. Debt to equity ratio

8. Times interest earned ratio

VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales $3,086,000 1,960,000 1,126,000 Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land $868,000 32,000 9,000 Interest expense 20,000 58,000 Income tax expense Total expenses 987,000 $ 139,000 Net income VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2021 2020 Assets Current assets: Cash $196,000 $154,000 Accounts receivable 91,000 115,000 70,000 145,000 7,200 Inventory Prepaid rent Long-term assets: Investment in bonds Land 13,000 115,000 220,000 280,000 (84,000) 250,000 220,000 (52,000) Equipment Less: Accumulated depreciation Total assets $946,000 $794, 200 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable $ 91,000 $ 76,000 8,000 4,000 20,000 15,000 Long-term liabilities: Notes payable Stockholders' equity: 295,000 235,000 Common stock Retained earnings 310,000 237,000 310,000 139, 200 $946,000 $794, 200 Total liabilities and stockholders' equity 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.) Answer is complete but not entirely correct. Risk Ratios Receivables turnover ratio times 1. 38.3 2. Average collection period 9.5 O days 3. times Inventory turnover ratio 15.1 Average days in inventory Current ratio Acid-test ratio 4. days 24.2 to 1 5. 4.0 to 1 6. 2.8 53.9 * % 7. Debt to equity ratio Times interest earned ratio 8. 0.0 times