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

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

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VIDEO SCREENS CORPORATIONBalance SheetsDecember $31,2024$ and $202320242023$Assets$$Current assets:$$Cash$$200,600$$$127,000$Accounts receivable$92,00099,000$Inventory$102,00087,000$Investments$4,7002,700$Long$-$term assets:$$Land$550,000550,000$Equipment$860,000740,000$Less: Accumulated depreciation$(498,000)(338,000)$Total assets$$1,311,300$$$1,267,700$Liabilities and Stockholders' Equity$$Current liabilities:$$Accounts payable$$106,000$$$92,000$Interest payable$6,50012,700$Income tax payable$8,5005,700$Long$-$term liabilities:$$Notes payable$110,000220,000$Stockholders' equity:$$Common stock$770,000770,000$Retained earnings$310,300167,300$Total liabilities and stockholders' equity$$1,311,300$$$1,267,700$

Additional information for $2024$:

Net income is $$143,000.$

Sales on account are $$1,776,300.$

Cost of goods sold is $$1,323,000.$

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?