The income statement and balance sheets for Laser World are provided below: LASER WORLD Income Statement...

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The income statement and balance sheets for Laser World are provided below: LASER WORLD Income Statement For the Year Ended December 31, 2024 Sales revenue Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income $2,250,000 1,570,000 680,000 343,000 62,000 5,000 24,000 53,000 487,000 $193,000 LASER WORLD Balance Sheets December 31 2024 2023 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts Davable $124,000 97,000 $102,000 79,000 160,000 140,000 17,000 17,000 360,000 300,000 290,000 240,000 (72,000) (42,000) $976,000 $836,000 $60.000 < Prev 4 of 40 $59.000 Score answer > Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and equity Required: $60,000 $59,000 8,600 7,600 15,100 12,900 340,000 240,000 180,000 180,000 372,300 336,500 $976,000 $836,000 Assuming that all sales were on account, calculate the following risk ratios for 2024: (Assume 365 days in a year. Round your intermediate calculations and final answers to one decimal place.) 1. Receivables turnover ratio 2. Average collection period 3. Inventory turnover ratio 4. Average days in inventory Risk Ratios 1.9 times days times days to 1 6. Acid-test ratio to 1 7. Debt to equity ratio % 8. Times interest earned ratio times 5. Current ratio an The income statement and balance sheets for Laser World are provided below: LASER WORLD Income Statement For the Year Ended December 31, 2024 Sales revenue Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income $2,250,000 1,570,000 680,000 343,000 62,000 5,000 24,000 53,000 487,000 $193,000 LASER WORLD Balance Sheets December 31 2024 2023 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts Davable $124,000 97,000 $102,000 79,000 160,000 140,000 17,000 17,000 360,000 300,000 290,000 240,000 (72,000) (42,000) $976,000 $836,000 $60.000 < Prev 4 of 40 $59.000 Score answer > Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and equity Required: $60,000 $59,000 8,600 7,600 15,100 12,900 340,000 240,000 180,000 180,000 372,300 336,500 $976,000 $836,000 Assuming that all sales were on account, calculate the following risk ratios for 2024: (Assume 365 days in a year. Round your intermediate calculations and final answers to one decimal place.) 1. Receivables turnover ratio 2. Average collection period 3. Inventory turnover ratio 4. Average days in inventory Risk Ratios 1.9 times days times days to 1 6. Acid-test ratio to 1 7. Debt to equity ratio % 8. Times interest earned ratio times 5. Current ratio an