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 $2,996,000 Cost of goods sold 1,942,000 Gross profit 1,054,000 Expenses: Operating expenses $850,000 Depreciation expense 23,000 Loss on sale of land 7,200 Interest expense 11,000 Income tax expense 40,000 Total expenses 931,200 Net income $ 122,800 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2021 2020 $178,000 73,000 97,000 11,200 $136,000 52,000 127,000 5,040 97,000 202,000 262,000 (57,000) $863,200 0 232,000 202,000 (34,000) $720,040 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 $ 58,000 4,400 11,000 $ 73,000 2,200 13,200 277,000 217,000 292,000 220,800 $863,200 292,000 122,640 $720,040 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 Receivables turnover ratio 2. Average collection period 3. Inventory turnover ratio 4. Average days in inventory Current ratio 6. Acid-test ratio 7. Debt to equity ratio Times interest earned ratio to 1 to 1 % 8. times