Answer Happy

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: Cash. $ 214,900 $ 111,000 Accounts receivable 60,000 83,000 Inventory 86,000 71,000 Investments 3,100 1,100 Long-term assets: Land 390,000 390,000 Equipment 700,000 580,000 Less: Accumulated depreciation (338,000) (178,000) Total assets $1,116,000 $1,058,100 Liabilities and Stockholders' Equity Current liabilities: $ 90,000 $ 76,000 Accounts payable Interest payable Income tax payable 6,000 8,000 11,100 4,100 Long-term liabilities: 110,000 220,000 Notes payable Stockholders' equity: Common stock 610,000 610,000 Retained earnings 292,000 136,900 Total liabilities and stockholders' equity $1,116,000 $1,058,100 Additional information for 2021: 1. Net income is $155,100. 2. Sales on account are $1,215,500. 3. Cost of goods sold is $973,400. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.)
Additional information for 2021: 1. Net income is $155,100. 2. Sales on account are $1,215,500. 3. Cost of goods sold is $973,400. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.) Risk Ratios a. Receivables turnover ratio tes times b. Inventory turnover ratio. tirnes c. Current ratio to 1 d. Acid-test ratio to 1 e. Debt to equity ratio %