Exercise 12-7 (Static) 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, 2024 and 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 2024 2023 $242,000 98,000 $130,000 102,000 105,000 90,000 5,000 3,000 580,000 580,000 890,000 770,000 (528,000) (368,000) $1,392,000 $1,307,000 $109,000 $95,000 Interest payable 7,000 13,000 Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock 9,000 6,000 110,000 220,000 800,000 800,000 Retained earnings 357,000 173,000 Total liabilities and stockholders' equity $1,392,000 $1,307,000 Additional information for 2024: 1. Net income is $184,000. 2. Sales on account are $1,890,000. 3. Cost of goods sold is $1,394,250. 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 a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio times times d. Acid-test ratio e. Debt to equity ratio % < Required 1 Required 2 > 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 >