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

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

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PLASMA SCREENS CORPORATIONBalance SheetsDecember $31,2024$ and $202320242023$Assets$$Current assets:$$Cash$$242,000$$$130,000$Accounts receivable$98,000102,000$Inventory$105,00090,000$Investments$5,0003,000$Long$-$term assets:$$Land$580,000580,000$Equipment$890,000770,000$Less: Accumulated depreciation$(528,000)(368,000)$Total assets$$1,392,000$$$1,307,000$Liabilities and Stockholders' Equity$$Current liabilities:$$Accounts payable$$109,000$$$95,000$Interest payable$7,00013,000$Income tax payable$9,0006,000$Long$-$term liabilities:$$Notes payable$110,000220,000$Stockholders' equity:$$Common stock$800,000800,000$Retained earnings$357,000173,000$Total liabilities and stockholders' equity$$1,392,000$$$1,307,000$

Additional information for $2024$:

Net income is $$184,000.$

Sales on account are $$1,890,000.$

Cost of goods sold is $$1,394,250.$

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?