The following information applies to the questions displayed below Balance Sheets Income statements and balance sheets data for Virtual Gaming Systems are provided s 216.000 $6,000 $54000 VIRTUAL GAMING SYSTEMS Income Statements For the year ended December 3 Prepaid ren Long-term asse 2019 2018 Investment in bonds Net sales Cost of goods sold $3,560,000 $3,086.000 2,490,0001960000 280000 220000 84,000)(2.000) Gross profit 1070,000 $1072.000 $946.000 $794 200 Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense 32.000 9.000 20,000 58.000 Labilites and Stockholders' Equity 161000 12.000 Accounts peyable 76.000 9000 23,000 9,000 ncome tax payable 20.000 Long-term rablites Notes payeble Stocknolders' equity Common seock 450.000 295.000 235,000 Total expenses 987000 310.000 Retained earnings 37000 Net income $ 33,000 139,000 Total lacises and stockholders' equity $t072.000 $946.000 $794.200 0.00 points 2. 10.00 points Required: 1. Calculate the following risk ratios for 2018 and 2019: (Round your answers to 2. Cakculate the following profitablity ratios for 2018 and 2019: (Round your answers to 1 Gross proft ratio Return on assets Proft margin Asset turnover 38.3 Smes 15.1 Smes 9.6 time5 Current ratio to 1 to 1 3.5 Smes 3.5 Smes Debt to equity ratio References eBook&Resources References eBook&Resources Learning Objective: 12-03 Use ratios to analyze a company's risk. Worksheet Leaming Objective: 12-03 Use ratios analyze a company's risk Leaning Objective: 12-04 Use ratios to analyze a company's profitability Difficulity: 3 Hard Difficulty: 3 Hard Learning Objective: 12-04 Use ratios analyze a company's profitability