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

VIRTUAL GAMING SYSTEMS
Income Statement
For the Year Ended December 31, 2024
Net sales		$3,061,000
Cost of goods sold		1,955,000
Gross profit		1,106,000
Expenses:
Operating expenses	$863,000
Depreciation expense	29,500
Loss on sale of land	8,500
Interest expense	17,500
Income tax expense	53,000
Total expenses		971,500
Net income		$134,500

VIRTUAL GAMING SYSTEMS
Balance Sheets
December 31
	2024	2023
Assets
Current assets:
Cash	$191,000	$149,000
Accounts receivable	86,000	65,000
Inventory	110,000	140,000
Prepaid rent	12,500	6,600
Long-term assets:
Investment in bonds	110,000	0
Land	215,000	245,000
Equipment	275,000	215,000
Less: Accumulated depreciation	(76,500)	(47,000)
Total assets	923,000	$773,600
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$71,000	$86,000
Interest payable	7,000	3,500
Income tax payable	17,500	14,500
Long-term liabilities:
Notes payable	290,000	230,000
Stockholders' equity:
Common stock	305,000	305,000
Retained earnings	232,500	134,600
Total liabilities and stockholders equity	$923,000	$773,600

Required: Assuming that all sales were on account, calculate the following risk ratios for 2024. (Use 365 days a year. Round your final answers to 1 decimal place.)

Exercises - Financial Statement Analy. Required: Assuming that all sales were on account, calculate the follo to 1 decimal place.)