please explain atep by step and what are the formulas

he balance sheets for Video Screens Corporation and additional information are provided below. Additional information for 2024 : 1. Net income is $112,400. 2. Sales on account are $1,665,300. 3. Cost of goods sold is $1,253,550. Additional information for 2024: 1. Net income is $112,400. 2. Sales on account are $1,665,300. 3. Cost of goods sold is $1,253,550. 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 Complete this question by entering your answers in the tabs below. Calculate the following risk ratios for 2024: (Round your answers to 1 decimal place.)