Exercise $12-7($Algo$)$ Calculate risk ratios $($LO$12-3)$

The balance sheets for Video Screens Corporation and additional information are provided below.

Additional information for $2024$ :

Net income is $$112,400.$

Sales on account are $$1,665,300.$

Cost of goods sold is $$1,253,550.$

Required:

Calculate the following risk ratios for $2024$ :

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.$)$

$\backslash$table$[[$Risk Ratios$],[$a$.$ Receivables turnover ratio,times$],[$b$.$ Inventory tumover ratio,times$],[$c$.$ Current ratio,$],[$d$.$ Acid$-$test ratio,$],[$e$.$ Debt to equity ratio,$\%$

Required $2$: when we compare two companies, can one have a higher current ratio while the other has a higher acid$-$test ratio?