Exercise 12-7A Calculate risk ratios (L012-3) The balance sheets for Plasma Screens Corporation and additional Information are provided below. PLASHA SCREENS CORPORATION Balance Sheets December 11, 2021 and 2020 2021 2020 110,400 $ 121,000 0,000 93,00 96, 13,000 4,100 2.100 490,00 490,000 0,000 500.000 (3.000 278.000) $1,162,500 31.19,100 Assets Current as Cash Accounts receivable Inventory Investments Longterasest Land Equipent Les 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 $ 100,000 $ 6,500 . 6,000 12.100 5.100 110,00 220,00 710, 780, 22:50 155.900 51,162,500 31,219,100 Additional Information for 2021 1. Net income is $71,600 2. Sales on account are $1,557,000 3. Cost of goods sold is $1185,900. Required: 1. Calculate the following risk ratios for 2021 (Round your answers to 1 decimal place.) + times times mt Hisk Ratio a Receivables turnover ratio b. Inventory turnover ratio Current ratio d Acid-test ratio Dant to equity ratio to 1 101 ances 2. When we compare two companies, can one have a higher current ratio while the other has a higher acid-test ratio? ores NO