The account balances for the year ended December 31,2010, for Williams Industries are listed next:

Requirements 1. Calculate the gross profit percentage for Williams Industries for the year.
2. The gross profit percentage for 2009 was 51.3%. Did the gross profit percent¬ age improve or deteriorate during 2010?
3. Calculate the current ratio for Williams Industries.
4. The current ratio for 2009 was 1.47. Did the current ratio improve or deteriorate during 2010?

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Sales Revenue.. $322,800 Cost of Goods Sold. $158,400 Equipment..... 104,000 Accumulated Depreciation, Accounts Payable.. 16,500 Equipment... 26,400 Sales Discounts 2,200 Unearned Sales Revenue 2,500 Advertising Expense. 12,600 Prepaid Rent. 1,200 Interest Expense 1,700 Office Salaries Expense. 52,000 Wages Payable... 1,600 Accumulated Depreciation, Accounts Receivable. 6,900 Building.. 40,500 Building........ 140,000 Rent Expense 5,800 Sales Returns and Dividends. 14,000 Allowances. 6,700 Cash... 7,800 Common Stock 35,000 Retained Earnings. 87,600 Utilities Expense. 10,300 Delivery Expense. 1,300 Inventory.... 16,400 Insurance Expense. 5,700 Commission Expense.. 22,300 Mortgage Payable. 37,000 Supplies. 600