[The following information applies to the questions displayed below.] Income statement and balance sheet data for The Athletic Attic are provided below. Net sales THE ATHLETIC ATTIC Income Statements For the years ended December 31 Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense 2022 2021 $11,100,000 $9,550,000 7,250,000 5,900,000 3,850,000 3,650,000 1,650,000 1,600,000 200,000 45,000 200,000 Income tax expense 460,000 2,355,000 45,000 400,000 2,245,000 Net income $ 1,495,000 $1,405,000 Interest expense Total expenses THE ATHLETIC ATTIC Balance Sheets December 31 2022 2021 2020 Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets: 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: 995,000 1,730,000 135,000 $ 230,000 $ 159,000 $ 214,000 745,000 1,360,000 105,000 765,000 1,030,000 80,000 1,300,000 1,300,000 1,300,000 (650,000) $3,740,000 (450,000) (250,000) $3,219,000 $3,139,000 $ 189,500 $ 120,000 $ 100,500 4,500 45,000 0 4,500 40,000 35,000 550,000 550,000 550,000 Connon stock 650,000 Retained earnings 2,301,000 650,000 1,859,000 650,000 1,799,000 Total liabilities and stockholders' equity $3,740,000 $3,219,000 $3,139,000 Required: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio 2021 2022 times times times times to 1 to 1 % % 2. Calculate the following profitability ratios for 2021 and 2022: (Round your answers to 1 decimal place.) Gross profit ratio Return on assets Profit margin Asset turnover 2021 2022 % % % % % % times times