Required Information [The following information applies to the questions displayed below.] Income statements and balance sheets data for Virtual Gaming Systems are provided below. VIRTUAL GAMING SYSTEMS Incone Statements For the years ended December 31 2022 2021 Net sales $3,548,eee $3,866,eee Cost of goods sold 2,486,eee 1,956,eee Gross profit 1,054, eee 1, 118,eee Expenses: Operating expenses 961, eee 864.ee Depreciation expense 36,888 30,000 Loss on sale of land 8,600 Interest expense 21,600 18,eee Income tax expense 8,680 51,eee Total expenses 1,026,600 971,600 Net Income $ 27,400 $ 138,400 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2022 2021 2e2e $ 219,880 $192,000 $150,eee 84.ee 87,882 66,00 134,000 111,082 141,800 14,689 12,689 6,728 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accunulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Connon stock Retained earnings Total liabilities and stockholders' equity 111,00 111,080 386,880 216,888 386,880 276.000 (114,680 (78,889) $1,851,689 $927,689 246, eee 216,eee (48 20) $777,720 $ 139,880 $ 72,000 $127,520 10, 880 7,280 3,600 12,600 18,000 14,660 460,880 291,080 231,eee 386,000 122,400 $1,851,660 386,080 3e6.ece 233,480 95, eee $927,689 $777,720 Required: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) 2021 2022 Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio times times to 1 % times times to 1 %