The following income statement and balance sheets for Virtual Gaming Systems are provided VIRTUAL GAMING SYSTEMS Incame Sunkomen For the year ended December 31, 2021 Net sales $3,041,000 Cost of goods sold 1.951,000 Gross profit 1,090,000 Expenses Operating expenses $859,000 Depreciation expense 27,500 Loss on sale of land 8,100 Interest expense 15,500 Income tax expense 49,000 Total expenses 959,100 Net Income $ 130,900 1 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2021 2020 $187,000 82,000 106,000 12,100 $145,000 61,000 136,000 6,120 106,000 211,000 271,000 (70.500 $904,600 241 000 211,000 (43,000 $757.120 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 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' equitys Common stock Retained earnings Total liabilities and stockholders equity $ 67.000 6.200 15.500 $ 82.000 3.100 14,100 286,000 226,000 301.000 228.900 5904 600 301.000 130,920 5757120 Required: Assuming that all sales were on account. calculate the following risk ralios for 2021 [use 365 days a year. Round your final answers to 1 decimal place.) 2. 3. Receivables turnover ratio + Average collection period Inventory turnover ratio Average days in inventory Current ratio 43.0 X times 8.5 days 16.1 times 23.0 X days 4.4 to 1 3.2 X to 1 4. 5. 6. Acid-test ratio 7. 71.0 X % Debt to equity ratio Times interest earned ratio 8. 12.6 times