window Help Question 4-Ch 12-In Class-x cation.com/ext/map/index.html?_con con&external browser=0&launchUrl=http Saved %252Flms.mhes Required information [The following information applies to the questions displayed below.] Income statement and balance sheet data for Virtual Gaming Systems are provided below. VIRTUAL GAMING SYSTEMS Income Statements For the years ended December 31 Net sales 2022 $3,560,000 2,490,000 2021 $3,086,000 1,950,000 Cost of goods sold Gross profit 1,070,000 1,126,000 Expenses: Operating expenses 965,000 868,000 Depreciation expense 40,000 32,000 Loss on sale of land 9,000 Interest expense 23,000 20,000 Income tax expense 19,000 58,000 Total expenses 1,037,000 987,000 Net income $ 33,000 $139,000 Assets Current assets: VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2022 2021 2020 < Prev 4 5 5 Score answer > 28 tv A MacBook Pro X Bookmarks Profiles Tab Window Help Question 4-Ch 12-In Class-x cation.com/ext/map/index.html?_con-con&external browser-0&launchUrl=http Seved VIRTUAL GAMING SYSTEMS Balance Sheets December 31 ms.mheducation. 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' equity: 2022 2021 2020 $216,000 $156,000 $154,000 90,000 91,000 70,000 140,000 115,000 145,000 15,000 13,000 7,200 115,000 115,000 310,000 220,000 250,000 310,000 (124,000) $1,072,000 (52,000) 280,000 220,000 (84,000) $946,000 $794,200 $ 161,000 $ 76,000 2,000 13,000 $91,000 8,000 20,000 4,000 15,000 450,000 295,000 235,000 Common stock Retained earnings Total liabilities and stockholders' equity 310,000 310,000 310,000 126,000 237,000 139,200 $1,072,000 $946,000 $794,200 < Prev 45 of 5 Score answer 28 MacBook Pro NA Help dit View Bass History Bookmarks Profiles Tab Window Hel Question 4-Ch 12-In Class-x + heducation.com/ext/map/index.html?_con-con&external browser=0&launchUrl=https ass Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Saved Total liabilities and stockholders' equity Flms.m 13,000 20,000 15,000 450,000 295,000 235,000 310,000 310,000 310,000 126,000 237,000 139,200 $1,072,000 $945,000 $794,200 Required: 1. Calculate the following risk ratios for 2021 and 2022: (Round your answers to 1 decimal place.) Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio 2021 2022 times times times times to 1 % % to 1 G < Prev 45 of 5 Score.answer > 28 A MacBook Pro