VIRTUAL GAMING SYSTEMS Income Statement For the Year Ended December 31, 2024 \begin{tabular}{lrr} Net sales & & $3,076,000 \\ Cost of goods sold & 1,958,000 \\ \hline Gross profit & & 1,118,000 \\ Expenses: & $866,000 & \\ Operating expenses & 31,000 & \\ Depreciation expense & 8,800 & \\ Loss on sale of land & 19,000 & \\ Interest expense & 56,000 & 980,800 \\ Income tax expense & & $137,200 \\ Total expenses & \\ Net income & & \\ \end{tabular} VIRTUAL GAMING SYSTEMS Balance Sheets December 31 20242023 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 1iabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity $194,00089,000113,00012,800$152,00068,000143,0006,960 \begin{tabular}{rr} 113,000 & 0 \\ 218,000 & 248,000 \\ 278,000 & 218,000 \\ (81,000) & (50,000) \\ \hline 936,800 & $785,960 \\ \hline \end{tabular} $74,000$89,000 293,000233,000 \begin{tabular}{rr} 308,000 & 308,000 \\ 235,200 & 137,360 \\ \hline$936,800 & $785,960 \\ \hline \end{tabular} Required: Assuming that all sales were on account, calculate the following risk ratios for 2024. (Use 365 days a year. Round your final answers to 1 decimal place.)