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Exercise 12-7A Calculate risk ratios (LO12-3) The balance sheets for Plasma Screens Corporation and additional...

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Accounting

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Exercise 12-7A Calculate risk ratios (LO12-3) The balance sheets for Plasma Screens Corporation and additional information are provided below. Additional information for 2021 : 1. Net income is $111,600. 2. Sales on account are $1,382,500 3. Cost of goods sold is $1,077,150 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.) 2. When we compare two companies, can one have a higher current ratio while the other has a higher acid-test ratio? Yes No

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