[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	$11,240,000	$9,700,000
Cost of goods sold	7,340,000	6,000,000
Gross profit	3,900,000	3,700,000
Expenses:
Operating expenses	1,660,000	1,610,000
Depreciation expense	200,000	200,000
Interest expense	46,000	46,000
Income tax expense	472,000	410,000
Total expenses	2,378,000	2,266,000
Net income	$1,522,000	$1,434,000

THE ATHLETIC ATTIC Balance Sheets December 31

2019

2018

2017

Assets

Current assets:

Cash

$ 231,000

$ 160,000

$ 216,000

Accounts receivable

996,000

746,000

766,000

Inventory

1,731,000

1,361,000

1,031,000

Supplies

136,000

106,000

81,000

Long-term assets:

Equipment

1,340,000

1,340,000

1,340,000

Less: Accumulated depreciation

(660,000)

(460,000)

(260,000)

Total assets

$3,774,000

$3,253,000

$3,174,000

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

$ 192,400

$ 123,000

$ 104,400

Interest payable

4,600

0

4,600

Income tax payable

46,000

41,000

36,000

Long-term liabilities:

Notes payable

560,000

560,000

560,000

Stockholders' equity:

Common stock

660,000

660,000

660,000

Retained earnings

2,311,000

1,869,000

1,809,000

Total liabilities and stockholders equity

$3,774,000

$3,253,000

$3,174,000

Required:

1. Calculate the following risk ratios for 2018 and 2019: (Round your answers to 1 decimal place.)

	2018		2019
Receivables turnover ratio		times		times
Inventory turnover ratio		times		times
Current ratio		to 1		to 1
Debt to equity ratio		%		%

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