12 Exercises (Static)i PLASMA SCREENS CORPORATION Balance Sheets December 31, 2821 and 2020 2021 2020 Assets Current assets: Cash 242,000 130 ,070 Accounts receivable 98, 000 102 , 050 Inventory 105,600 90,09 Investments 5,900 3,800 Long term assets: Land 580, 900 580, 060 Equipment 890, 006 770, 060 Less : Accumulated depreciation (528,000 (368, 060 Total assets $1, 392, 000 $1, 307,068 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 109,000 95,000 Interest payable 7,000 13,008 income tax payable 9,000 6,000 Long term liabilities: Notes payable 110, 000 220,090 stockholders ' equity: Common stock 800 , 006 800 , 090 Retained earnings 357,000 173,090 Total liabilities and stockholders $1, 392 , 090 $1, 307, 808 equity Additional information for 2021 income is $184.060 Sales on accour are $1.890.000 account are al.OBV. sads sold is $1.394 56 3. Cost of Goods sIncome tax payable 9,208 6,060 Long-term liabilities: Notes payable 110 , 200 220, 950 Stockholders' equity: Common stock 809 , 200 Retained earnings 357 , 200 173,020 Total liabilities and stockholders equity $1, 392 , 900 11, 307 , 020 Additional information for 2021 1. Net income is $184,000 Sales on account are $1,890,000 .Cost of goods sold is $1,394.250 Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.) Receivables turnover ratio Inventory tumover ratio Current relic Debt to equity ratio