Exercise 12-7 (Algo) Calculate risk ratios (LO12-3) The balance sheets for Video Screens Corporation and additional information are provided below. VIDEO SCREENS CORPORATION Balance Sheets December 31, 2024 and 2023 2024 2023 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: 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: Common stock Retained earnings Total liabilities and stockholders' equity Additional information for 2024: $191,200 $113,000 64,000 88,000 85,000 73,000 3,300 1,300 410,000 410,000 720,000 600,000 (358,000) (198,000) $1,118,500 $1,084,300 $92,000 $78,000 5,500 11,300 7,500 4,300 120,000 240,000 630,000 630,000 263,500 120,700 $1,118,500 $1,084,300 Check my Additional information for 2024: 1. Net income is $142,800. 2. Sales on account are $1,281,400. 3. Cost of goods sold is $1,014,300. 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. Required 1 Required 2 Calculate the following risk ratios for 2024: (Round your answers to 1 decimal place.) Risk Ratios Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio times times e. Debt to Equity ratio % Additional information for 2024: 1. Net income is $142,800. 2. Sales on account are $1,281,400. 3. Cost of goods sold is $1,014,300. 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. Required 1 Required 2 When we compare two companies, can one have a higher current ratio while the other has a higher acid-test ratio? When we compare two companies, can one have a higher current ratio while the other has a higher acid-test ratio? < Required 1 Required 2