k The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 198,000 $ 112,000 Accounts receivable 62,000 84,000 Inventory 87,000 72,000 Investments 3,200 1,200 Long-term assets: Land 400,000 400,000 Equipment 710,000 590,000 Less: Accumulated depreciation (348,000) (188,000) Total assets $1,112,200 $1,071,200 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 91,000 $ Interest payable 77,000 5,000 11,200 Income tax payable 7,000 4,200 Long-term liabilities: Notes payable Stockholders' equity: 100,000 200,000 Common stock 620,000 620,000 Retained earnings 289, 200 158,800 Total liabilities and stockholders' equity $1,112,200 $1,071,200 nt Additional information for 2021: 1. Net income is $130,400. 2. Sales on account are $1,248,300. 3. Cost of goods sold is $993,750. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.) times Risk Ratios a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio Debt to equity ratio times to 1 e. to 1 % Additional information for 2021: 1. Net income is $130,400. 2. Sales on account are $1,248,300. 3. Cost of goods sold is $993,750. Required: 1. Calculate the following risk ratios for 2021 (Round your answers to 1 decimal place.) 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 % 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