The balance sheets for Plasma Screens Corporation and additional Information are provided below. PLASMA SCREENS CORPORATION...

 
 
 

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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: 201,200 90,000 101,000 4,600 $ 126,000 98,000 ৪6, 00০ 2,600 Cash 2$ Accounts receivable Inventory Investments Long-term assets: Land 540,000 850,000 (488,000) $1,298,800 $1,254,600 540, 0০০ 730,000 (328,000) Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: 105,000 8,500 Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings 91,000 12,600 5,600 10,500 100,000 200,000 760,000 314,800 760,000 185,400 Total liabilities and stockholders' equity $1,298,800 $1,254,600 Additional information for 2021: 1. Net income is $129,400. 2. Sales on account are $1,739,000. 3. Cost of goods sold is $1,299,650. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal pl Answer is complete but not entirely correct. Risk Ratios a. Receivables turnover ratio 18.5 times b. Inventory turnover ratio 13.9 times с. Current ratio 3.2 O to 1 d. Acid-test ratio 2.4 O to 1 е. Debt to equity ratio 18.6 X% 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: 201,200 90,000 101,000 4,600 $ 126,000 98,000 ৪6, 00০ 2,600 Cash 2$ Accounts receivable Inventory Investments Long-term assets: Land 540,000 850,000 (488,000) $1,298,800 $1,254,600 540, 0০০ 730,000 (328,000) Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: 105,000 8,500 Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings 91,000 12,600 5,600 10,500 100,000 200,000 760,000 314,800 760,000 185,400 Total liabilities and stockholders' equity $1,298,800 $1,254,600 Additional information for 2021: 1. Net income is $129,400. 2. Sales on account are $1,739,000. 3. Cost of goods sold is $1,299,650. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal pl Answer is complete but not entirely correct. Risk Ratios a. Receivables turnover ratio 18.5 times b. Inventory turnover ratio 13.9 times с. Current ratio 3.2 O to 1 d. Acid-test ratio 2.4 O to 1 е. Debt to equity ratio 18.6 X%