Use the data in Short Exercise 9-12 to compute the following 2008 ratios for Avant Garde Clothiers. Round decimals to two places.

a. Current ratio 

b. Debt ratio 

c. Gross profit percentage 

d. Rate of inventory turnover.

Exercise 9-12

Avant Garde Clothiers reported the following items at February 28, 2008 (amounts in thousands, with last year's — 2007 — amounts also given as needed):

Compute Avant Garde's

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Accounts payable $ 400 Accounts receivable, net: Cash 210 February 28, 2008 $ 220 Inventories: February 28, 2007 150 February 28, 2008 190 Cost of goods sold 1,200 February 28, 2007 160 Short-term investments 160 Net sales revenue 2,190 Other current assets 90 Long-term assets 410 Other current liabilities 140 Long-term liabilities 170