The following information applies to the questions displayed below.] Income statements and balance sheets data for Virtual Gaming Systems are provided below. VIRTUAL GAMING SYSTEMS Income Statements For the year ended December 31 2019 2018 $3,560,000 $3,086,000 Net sales Cost of goods sold 2,490,000 1,960,000 Gross profit 1,070,000 1,126,000 Expenses Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense 965,000 40,000 0 23,000 9,000 868,000 32,000 9,000 20,000 58,000 Total expenses 1,037,000 987,000 Net income $ 33,000 139,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2019 2018 2017 Assets Current assets Cash Accounts receivable Inventory Prepaid rent 216,000 90,000 140,000 15,000 $196,000 91,000 115,000 13,000 $154,000 70,000 145,000 7,200 Long-term assets Investment in bonds Land Equipment Less: Accumulated depreciation 115,000 310,000 310,000 (124,000) 115,000 220,000 280,000 (84,000) 0 250,000 220,000 (52,000) Total assets $1,072,000 $946,000 $794,200 Liabilities and Stockholders' Equity Current liabilities: Accounts pavable Interest payable Income tax pavable $ 161,000 12,000 13,000 $76,000 8,000 20,000 $91,000 4,000 15,000 Long-term liabilities Notes payable 450,000 295,000 235,000 Stockholders' equity: Common stock 310,000 126,000 310,000 237,000 310,000 139,200 Retained earnings Total liabilities and stockholders' equity $1,072,000 $946,000 $794,200 Required: 1. Calculate the following risk ratios for 2018 and 2019: (Round your answers to 1 decimal place.) 2018 2019 Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio times times to 1 times times to 1 2. Calculate the following profitability ratios for 2018 and 2019: (Round your answers to 1 decimal place.) 2018 2019 Gross profit ratio Return on assets Profit margin Asset turnover times times