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Required information Problem 12-6A (Algo) Use ratios to analyze risk and profitability (L012-3, 12-4) [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 Income Statements For the Years Ended December 31 2025 Net sales $3,480,000 Cost of goods sold 2,474,000 Gross profit 1,006,000 Expenses: Operating expenses 949,000 Depreciation expense 24,000 Loss on sale of land 0 Interest expense 15,000 Income tax expense 7,400 Total expenses 995, 400 Net income 10,600 2024 $3,006,000 1,944,000 1,062,000 852,000 24,000 7,400 12,000 45,000 940,400 121,600 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2025 2024 2023 $198,000 72,000 122,000 13,400 $180,000 75,000 99,000 11,400 $138,000 54,000 129,000 5,280 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 99,000 294,000 294,000 (84,000) $1,008,400 99,000 204,000 264,000 (60,000) $872,400 0 234,000 204,000 (36.000) $728,280 $244,200 7,200 11,400 $60,000 4,800 12,000 $98,480 2,400 13,400 340,000 279,000 219,000 294,000 111,600 $1,008,400 294,000 222,600 $872,400 294,000 101,000 $728,280 Problem 12-6A (Algo) Part 1 Required: 1. Assuming that all sales were on account, calculate the following risk ratios for 2024 and 2025: (Round your answers to 1 decimal place.) Receivables turnover ratio Inventory tumover ratio Current ratio Debt to equity ratio 2024 times times 2025 times times % %