Income statement and balance sheet data for The Athletic Attic are provided below. THE ATHLETIC ATTIC Income Statements For the years ended December 31 2022 2021 Net sales $10,400,000 $8,900,000 Cost of goods sold 6,800,000 5,450,000 Gross profit 3,600,000 3,450,000 Expenses: Operating expenses 1,600,000 1,600,000 Depreciation expense 200,000 210,000 Interest expense 40,000 50,000 Income tax expense 400,000 360,000 Total expenses 2.240,000 2,220,000 Net income $ 1,360,000 $1,230,000 THE ATHLETIC AITIC Balance Sheets December 31 2022 2021 2020 Assets Current assets: Cash $225,000 $164,000 $ 214,000 Accounts receivable 990,000 790,000 810,000 Inventory 2,725,000 1,405,000 1,075,000 Supplies 130,000 120,000 85,000 Long-term assets: Equipment 1,200,000 1,150,000 1,150,000 Less: Accumulated depzeciation (600,000) (420,000) (210,000) Total assets $3,570,000 $3,199,000 $3,124,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 175,000 $ 115,000 $91,000 Interest payable 4,000 5,000 Income tax payable 40,000 40,000 31,000 Long-term liabilities: Notes payable 500,000 600,000 600,000 Stockholders' equity: Common stock 600,000 700,000 700,000 Retained earnings 2,251,000 1,744,000 1,697,000 Total liabilities and stockholders' equity $3,570,000 $3,199,000 $3, 124,000 Problem 12-6B Part 1 Required: 1. Calculate the following risk ratios for 2021 and 2022 (Round your answers to 1 decimal place.) 2021 2022 times times times times Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio to 1 to 1 % % 2 Calculate the following profitability ratios for 2021 and 2022(Round your answers to 1 decimal place.) 2021 2022 % % % % Gross profit ratio Return on assets Profit margin Asset turnover % % times times