3 The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA...
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3 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 eBook $ 232,600 $ 129,000 96,000 101,000 104,000 89,000 4,900 Hint 2,900 Print 570,000 570,000 880,000 760,000 (518,000) (358, 000) $1,369,500 $1,293,900 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 liabiliti and stockholders' equity $ 108,000 $ 7,500 9,500 94,000 12,900 5,900 100,000 200,000 790,000 790,000 354,500 191,100 $1,293,900 $1,369,500 Additional information for 2021: 1. Net income is $163,400. 2. Sales on account are $1,851,800 3. Cost of goods sold is $1,370,300. 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 %
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