PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ 242,000 98,000 105,000 5,000 $ 130,000 102,000 90,000 3,000 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 equityt Cominon stock Retained earnings Total liabilities and stockholders' equity 580,000 890,000 (528,000) $1,392,000 580,000 770,000 (368.000) $1,307,000 $ $ 109,000 7,000 9,000 95,000 13,000 6,000 110,000 220,000 800.000 357,000 $1,392,000 800,000 173,000 $1,307,000 Additional information for 2021 1. Net Income is $184.000. 2. Sales on account are $1,890,000 3. Cost of goods sold is $1.394,250. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.) G Search or type URL # GA % signment i Total liabilities and stockholders' equity $1,392,000 $1,307,000 Additional information for 2021 1. Net income is $184,000. 2. Sales on account are $1,890,000. 3. Cost of goods sold is $1,394,250. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.) times times Risk Ratios a. Receivables turnover ratio b. Inventory turnover ratio C. Current ratio d. Acid-test ratio e. Debt to equity ratio to 1 to 1 % 2. When we compare two companies, can one have a higher current ratio while the other has Yes No