VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2021 2020 $ 194,000 89,888 113, 12,800 5152,000 68,000 143,888 5,960 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 113,000 218,000 278,000 (81,000) 5936,800 243,000 218,900 (50,000) $785,960 $ 74,000 7,600 19,000 $ 89,000 3,500 14,800 293,000 233,00 388,000 235, 200 $936,800 308,000 137 360 5785,960 Required: Assuming that all sales were on account, calculate the following risk rotos for 2021 (Use 365-days a year. Round your final answers to 1 decimal place.) Required: Assuming that all sales were on account, calculate the following risk ratios for 2021 (Use 365 days a year. Round your final answers to 1 decimal place.) times days times 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 days to 1 to 1 96 times