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The balance sheets for Plasma Screens Corporation and additional information are provided below. Additional information for 2018: 1. Net income is $128, 400. 2. Sales

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The balance sheets for Plasma Screens Corporation and additional information are provided below. Additional information for 2018: 1. Net income is $128, 400. 2. Sales on account are $1, 702,000. 3. Cost of goods sold is $1, 276, 500. Required: 1. Calculate the following profitability ratios for 2018: (Round your answers to 1 decimal place.) When we compare two companies, can one leave a higher current ratio while the other has a higher acid-test ratio? Yes No

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