Exercise $12-7($Algo$)$ Calculate risk ratios $($LO$12-3)$

The balance sheets for Dual Monitors Corporation and additional information are provided below.

Additional information for $2024$:

Net income is $$120,400.$

Sales on account are $$1,314,800.$

Cost of goods sold is $$1,035,050.$

Required:

Calculate the following risk ratios for $2024$ :

When we compare two companies, can one have a higher current ratio while the other has a higher acid$-$test ratio?

Complete this question by entering your answers in the tabs below.

Calculate the following risk ratios for $2024$: $($Round your answers to $1$ decimal place.$)$