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 Accounts receivable Inventory Investments Long-term assets: Landi Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable $ 191,200 $ 113,000 64,000 85,000 88,000 73,000 3,300 1,300 410,000 410,000 720,000 600,000 (358,000) (198,000) $1,118,500 $1,084,300 92,000 $ 78,000 5,500 11,300 7,500 4,300 120,000 240,000 Stockholders' equity: Common stock 630,000 630,000 Retained earnings 263,500 120,700 Total liabilities and stockholders' equity $1,118,500 $1,084,300 Additional information for 2021: 1. Net income is $142,800. 2. Sales on account are $1,281,400. 3. Cost of goods sold is $1,014,300. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.) Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.) Risk Ratios a. Receivables turnover ratio times b. Inventory turnover ratio times c. Current ratio to 1 d. Acid-test ratio to 1 e. Debt to equity ratio % 2. When we compare two companies, can one have a higher current ratio while the other has a higher acid-test ratio? Yes No