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25 Do income statement and balance sheets for Vitual Gaming Systems are provided VIRTUAL GANGSUSTES The State For the yearned December 11, 2001 et sales $3,400,00 Cost of gods sold 1.16. Gross profit 1,120,000 Operating penses 5860,000 Depreciation expense 33.000 Los on sale of land 9.000 Interest expense 20.000 The tax wense S. Total expenses 307 siet tncome 11.00 VIRTUAL GONG SYSTEMS Balance Sheets December 31 2021 230 5136 Assets Current Cash Accounts receivable ventory Prepaid rent Loter assets Investment in bonds Land Equipent 115,00 11.000 $154,000 70. 145. 7,200 115, 220. 20. 14 48,00 2. 220,000 RO Totalt Latitis and stockholders Equity Current liabilities $70, 11.00 Check Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders equity: Common stock Retained earnings Total liabilities and stockholders' equity $ 76,000 8,800 20,000 5 91,000 4.800 15,000 295,000 235,000 310,000 237,000 $946,000 310.000 139,200 $794,200 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.) Risk Ratios 1 Receivables tumover ratio 2 Average collection period 3. Inventory turnover ratio 4. Average days in Inventory 5 Current ratio 6 Acid est ratio 7 Debt to equity ratio 8 Times interest eamed ratio 38.3 times 95 days 15.1 times 24 21 days Eto 1 to 1 times