(use 365 days a year. Round your intermediate calculations and final answers to 1 decimal place.)

Problem 12-4A Calculate risk ratios (L012-3) The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2018 Net sales Cost of goods sold $3,066,000 1,956,000 1.110,000 Gross profit Expenses Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense $864.000 30,000 8,600 18,000 54,000 Total expenses 974,600 Net income $ 135.400 2017 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2018 Assets Current assets: Cash $192,000 Accounts receivable 87,000 Inventory 111,000 Prepaid rent 12,600 Long-term assets: Investment in bonds 111,000 Land Equipment 216,000 Less: Accumulated depreciation 276,000 (78,000) Total assets $927,600 $150,000 66,000 141,000 6,720 246,000 216,000 (48,000) $777,720 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings $ 72,000 7,200 18,000 $ 87,000 3,600 14,600 291,000 231,000 306,000 233,400 306,000 135,520 Total liabilities and stockholders' equity $927,600 $777.720 Required: Assuming that all sales were on account, calculate the following risk ratios for 2018. Risk Ratios 1. Receivables turnover ratio 2. Average collection period 3. Inventory turnover ratio 4. Average days in inventory 5. Current ratio 6. Acid-test ratio 7. Debt to equity ratio 8. Times interest earned ratio times days times days to 1 to 1 times