hapter #12 7 The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 12.5 2021 2020 points $ $ 144,400 82,000 97,000 4,200 122,000 94,000 82,000 2,200 eBook 500,000 810,000 (448,000) $1,189,600 500,000 690,000 (288,000) $1,202,200 Hint 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 Print $ $ 101,000 7,000 9,000 87,000 12,200 5,200 References 120,000 240,000 720,000 232,600 $1,189,600 720,000 137,800 $1,202,200 Additional information for 2021: 1. Net income is $94,800. 2. Sales on account are $1,592,800. 3. Cost of goods sold is $1,208,250. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.) Homework Chapter #12 Saved 7 Common stock Retained earnings Total liabilities and stockholders' equity 720,000 232,600 $1,189,600 720,000 137,800 $1,202,200 12.5 points Additional information for 2021: 1. Net income is $94,800. 2. Sales on account are $1,592,800. 3. Cost of goods sold is $1,208,250. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.) eBook Hint Print Risk Ratios a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio e. Debt to equity ratio times times to 1 to 1 % References 2. When we compare two companies, can one have a higher current ratio while the other has a higher acid-test ratio? Yes O No