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The balance sheets for Video Screens Corporation and additional information are provided below. VIDEO SCREENS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current
The balance sheets for Video Screens Corporation and additional information are provided below. VIDEO SCREENS CORPORATION Balance Sheets December 31, 2024 and 2023 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 2024 2023 $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 4,300 120,000 240,000 630,000 630,000 263,500 120,700 Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional information for 2024: 1. Net income is $142,800. 2. Sales on account are $1,281,400. 3. Cost of goods sold is $1,014,300. $1,118,500 $1,084,300 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. Required 1 Required 2 Calculate the following risk ratios for 2024: (Round your answers to 1 decimal place.) Risk Ratios a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio times times d. Acid-test ratio: e. Debt to equity ration % Required 1 Required 2 > 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. Required 1 Required 2 ces When we compare two companies, can one have a higher current ratio while the other has a higher acid-test ratio? When we compare two companies, can one have a higher current ratio while the other has a higher acid-test ratio
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