The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2018 $3,001,000 1,943,000 Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense 1,058,000 $851,000 23,500 7,300 11,500 41,000 Total expenses 934,300 $ 123,700 Net income VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2018 2017 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds $179,000 74,000 98,000 11,300 $137,000 53,000 128,000 5,160 98,000 203,000 263,000 (58,500) Land Equipment Less: Accumulated depreciation 233,000 203,000 (35,000) Total assets $867,800 $724,160 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable $ 74,000 2,300 $ 59,000 4,600 11,500 13,300 Long-term liabilities: Notes payable Stockholders' equity: 278,000 218,000 Common stock 293,000 221,700 293,000 123,560 Retained earnings Total liabilities and stockholders' equity $867,800 $724,160 Required: Assuming that all sales were on account, calculate the following risk ratios for 2018. (Use 365 days a year. Round your intermediate calculations and final answers to 1 decimal place.) Risk Ratios 1. Receivables turnover ratio times 2. Average collection period days Inventory turnover ratio 3. times 4. Average days in inventory days to 1 5. Current ratio 6. Acid-test ratio to 1 Debt to equity ratio 7. 8. Times interest earned ratio times