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PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ 216,400 $ 128,000 94,000 100,000 103,000 88,000 4,800 2,800 560,000 870,000 (508,000)
PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ 216,400 $ 128,000 94,000 100,000 103,000 88,000 4,800 2,800 560,000 870,000 (508,000) $1,340,200 560,000 750,000 (348,000) $1,280,800 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 $ $ 107,000 7,000 9,000 93,000 12,800 5,800 210,000 120,000 780,000 317,200 $1,340,200 780,000 149,200 $1,280,800 Additional information for 2021 1. Net income is $168,000. 2. Sales on account are $1,813,900. 3. Cost of goods sold is $1,346,550, 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 %
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