VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales $ 3,066,000 Cost of goods sold 1,956,000 Gross profit 1,110,000 Expenses: Operating expenses $ 864,000 Depreciation expense 30,000 Loss on sale of land 8,600 Interest expense 18,000 Income tax expense 54,000 Total expenses 974,600 Net income $ 135,400 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2021 2020 Assets Current assets: Cash $ 192,000 $ 150,000 Accounts receivable 87,000 66,000 Inventory 111,000 141,000 Prepaid rent 12,600 6,720 Long-term assets: Investment in bonds 111,000 0 Land 216,000 246,000 Equipment 276,000 216,000 Less: Accumulated depreciation (78,000 ) (48,000 ) Total assets $ 927,600 $ 777,720 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 72,000 $ 87,000 Interest payable 7,200 3,600 Income tax payable 18,000 14,600 Long-term liabilities: Notes payable 291,000 231,000 Stockholders' equity: Common stock 306,000 306,000 Retained earnings 233,400 135,520 Total liabilities and stockholders equity $ 927,600 $ 777,720 Required: Assuming that all sales were on account, calculate the following risk ratios for 2021. (Use 365 days a year. Round your final answers to 1 decimal place.)