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Use ratios to analyze risk and profitability ( L012-3, 12-4) P12-6A Income statement and balance sheet data for Virtual page 642 Gaming Systems are provided

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Use ratios to analyze risk and profitability ( L012-3, 12-4) P12-6A Income statement and balance sheet data for Virtual page 642 Gaming Systems are provided below. VIRTUAL GAMING SYSTEMS Balance Sheets December 31 Required: 1. Calculate the following risk ratios for 2024 and 2025 : a. Receivables turnover ratio. b. Inventory turnover ratio. c. Current ratio. d. Debt to equity ratio. 2. Calculate the following profitability ratios for 2024 and 2025: a. Gross profit ratio. b. Return on assets. c. Profit margin. d. Asset turnover. 3. Based on the ratios calculated, determine whether overall risk and profitability improved from 2024 to 2025

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