Chapter 12 Homework Part 20 5 The balance sheets for Plasma Screens Corporation and additional information are provided below PLDBOR 100 Balance she December 31, 20 and 2 who TERE Cat Acta reevable Inventory The 3.100 # 15,1 123,000 010 95.00 14.00 3, 4.100 110,000 510.00 610.000 700,00 458. HD 190.00 $1,211.1 1.21,340 ant La Maccati Total sa Lai and holder Current Isabilities ta payable Istreet payable Tecome tax e Long-term that te peale stockholders equity Contok Netani Totally 102,00 1.10 1,500 8.000 12.00 3.30 1.610 380.00 30,000 240.160 175,00 11.11.11.19 Additional Information for 2021 Net income $88.400. 2. Sales on account $1628.900 3. Cost of goods sold is $1230.000, Pened 5 Long-term liabilitat Notes peable Stethelderly Commonsta Datained waren TULAI Labilities and to decidy 100,000 100,000 730.000 230,00 26, 100 173.700 81.217,104 61,255, Bew Additional information for 2020: 1. Net Income is $88.400 2. Sales on account are $1,628,900 3. Cost of goods sold is $1.230.800 Required: 1. Calculate the following risk ratios for 2021 (Round your answers to decimal place) mes a Receitamover vertory Current Adobe Daxy 11 2. When we compare two companies, canone have a higher current ratio while the other has a higher acid test ratio? Yes No mework Part 2 The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 158,800 $ 123,000 84,000 95,000 98,000 83,000 4,300 2,300 Assets Current assets: Canh Accounts receivable Inventory Investment Long-term assets Land Equipment Less: Accumulated depreciation Total asset Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: dotes payable Stockholders equity! Coenon stock Retained earnings Total liabilities and stockholders' equity 510.000 $10,000 820.000 700,000 (458,000) 1298.000) $1,217,100 $1,215,300 $ 102,000 7.500 .500 88,000 12,300 5.300 100,000 280,000 730,000 230,000 268, 100 129.700 $1,217,100 $3,215,300 Additional information for 2021 1. Net income is $88.400 2 Sales on account are $1,628,900, 3. Cost of goods sold is $1.230,800 Required: 1. Calculate the following risk ratios for 2021 (Round your answers to 1 decimal place)