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?Complete this question by entering your answers in the tabs below.Required 1 Required 2Calculate the following risk ratios for 2024: (Round your answers to 1 decimal place.)Risk Ratiosa. Receivables turnover ratiob. Inventory turnover ratioc. Current ratiod. Acid-test ratioe. Debt to equity ratiotimestimes%Required 1Required 2 > The balance sheets for Video Screens Corporation and additional information are provided below.VIDEO SCREENS CORPORATIONBalance Sheets.December 31, 2024 and 2023AssetsCurrent assets:CashAccounts receivableInventoryInvestmentsLong-term assets:LandEquipmentLess: Accumulated depreciationTotal assetsLiabilities and Stockholders' EquityCurrent liabilities:Accounts payableInterest payableIncome tax payableLong-term liabilities:Notes payableStockholders' equity:Common stockRetained earningsTotal liabilities and stockholders' equityAdditional information for 2024:1. Net income is $142,800.2. Sales on account are $1,281,400.3. Cost of goods sold is $1,014,300.2024$191,20064,00088,0003,300410,000720,0002023$92,0005,5007,500$113,00085,00073,0001,300410,000600,000(358,000) (198,000)$1,118,500 $1,084,300$78,00011,3004,300120,000240,000630,000630,000263,500120,700$1,118,500 $1,084,300

Current ratio :— It is calculated by dividing current assets by current liabilities. Receivable…

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? 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.) Risk Ratios a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio e. Debt to equity ratio times times % Required 1 Required 2 >

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? 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.) Risk Ratios a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio e. Debt to equity ratio times times % Required 1 Required 2 >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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