[The following information applies to the questions displayed below.] Income statement and balance sheet data for The Athletic Attic are provided below. THE ATHLETIC ATTIC Income Statements For the years ended December 31 2019 2018 Net sales $13,200,000 $11,800,000 Cost of goods sold 8,600,000 7,400,000 Gross profit 4,600,000 4,400,000 Expenses: Operating expenses 1,800,000 1,750,000 Depreciation expense 200,000 200,000 Interest expense 60,000 60,000 Income tax expense 640,000 550,000 Total expenses 2,700,000 2,560,000 Net income $1,900,000 $1,840,000 THE ATHLETIC ATTIC Balance Sheets December 31 2019 2018 2017 Assets Current assets: Cash $ 245,000 $ 175,000 $ 244,000 Accounts receivable 1,010,000 760,000 780,000 Inventory 1,745,000 1,375,000 1,045,000 Supplies 150,000 120,000 95,000 Long-term assets: Equipment 1,900,000 1,900,000 1,900,000 Less: Accumulated depreciation (800,000) (600,000) (400,000) Total assets $4,250,000 $3,730,000 $3,664,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 233,000 $ 166,000 $ 159,000 Interest payable 6,000 0 6,000 Income tax payable 60,000 55,000 50,000 Long-term liabilities: Notes payable 700,000 700,000 700,000 Stockholders' equity: Common stock 800,000 800,000 800,000 Retained earnings 2,451,000 2,009,000 1,949,000 Total liabilities and stockholders equity $4,250,000 $3,730,000 $3,664,000 rev: 04_13_2018_QC_CS-124020 3. Required information Required: 1. Calculate the following risk ratios for 2018 and 2019: (Round your answers to 1 decimal place.) Check my work 4. Required information 2. Calculate the following profitability ratios for 2018 and 2019: (Round your answers to 1 decimal place.)