MONITOR WORLD CORPORATION Balance Sheets December 31,2024 and 2023 2024 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 \begin{tabular}{rr} 68, & 68, \\ 24,0 & 17,2 \\ \hline$1,13,0 & $1,149,80 \\ \hline \end{tabular} Additional information for 2024 : 1. Net income is $69,800. 2. Sales on account are $1,451,400. 3. Cost of goods sold is $1,120,050. 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. Calculate the following risk ratios for 2024: (Round your answers to 1 decimal place.)