Exercise 12-7 (Algo) Calculate risk ratios (LO12-3) The balance sheets for Monitor World Corporation and additional information are provided below. Additional information for 2024 : 1. Net income is $102,200. 2. Sales on account are $1,348,500. 3. Cost of goods sold is $1,056,000. Required: 1. Calculate the following risk ratios for 2024 : 2. 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.) Required: 1. Calculate the following risk ratios for 2024 : 2. 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. When we compare two companies, can one have a higher current ratio while the other has a higher acid-test ratio