The following income statement and balance sheets for The Sports Shack are provided.

Required:
Assuming that all sales were on account, calculate the following risk ratios for 2015.
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 earnedratio

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The Sports Shack Income Statement For the vear ended December 31.2015 Sales revenue Cost of goods sold Gross profit S6,600,000 4,700,000 1,900,000 Expenses Operating expenses Depreciation expense Interest expense Income tax expense 1,400,000 100.000 50,000 80.000 1,630,000 S 270,000 Total expenses Net income The Sports Shack Balance Sheets December 31 Assets 2015 2014 Current assets Cash Accounts receivable Inventory Supplies S218,000 S196,000 880,000 1,250,000 1.100,000 65.000 680,000 90,000 1.200,000 Long-term assets Equipment Accumulated depreciation (350.000) (250.000) 900.000 Total assets S3,088,000 S2,891,000 Liabilities and Stockholders' Equitv Crrent liabiities Accounts payable Interest pavable $65.000 S 55.000 6.000 30,000 4.000 Income tax payable Notes payable Common stock 40,000 400.000 900.000 Long-tem liabilities 300,000 Stockholders equity: 900.000 1.679,000 .600.000 Total liabilities and equity S3,088,000 S2,891,000 Retained earmings