Exercise 12-7 Calculate risk ratios (LO12-3)

The balance sheets for Plasma Screens Corporation and additional information are provided below.

PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017
	2018		2017
Assets
Current assets:
Cash	$	151,300	$	117,000
Accounts receivable		72,000		89,000
Inventory		92,000		77,000
Investments		3,700		1,700
Long-term assets:
Land		450,000		450,000
Equipment		760,000		640,000
Less: Accumulated depreciation		(398,000)		(238,000)
Total assets	$	1,131,000	$	1,136,700
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	96,000	$	82,000
Interest payable		6,000		11,700
Income tax payable		8,000		4,700
Long-term liabilities:
Notes payable		110,000		220,000
Stockholders' equity:
Common stock		670,000		670,000
Retained earnings		241,000		148,300
Total liabilities and stockholders' equity	$	1,131,000	$	1,136,700

Additional information for 2018:

1. Net income is $92,700.

2. Sales on account are $1,416,800.

3. Cost of goods sold is $1,098,500.

Required:

1. Calculate the following risk ratios for 2018: (Round your answers to 1 decimal place.)

Reciveables turnover Ratio, Inventory turnover ratio, current ratio, Acid-Test ratio, Debt-equity Ratio