1 CURRENT RITIO? 2 ACID-TEST RATIO? 3GROSS MARGIN RATIO?

The following unadjusted trial balance is prepared at scal yearend for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 201? Debit Credit Cash $ 5,950 Merchandise inventory 15,000 Store supplies 5,100 Prepaid insurance 2,500 Store equipment 42,600 Accumulated depreciationStore equipment $ 13,050 Accounts payable 15,000 J. Nelson, Capital 19,000 J. Nelson, Withdrawals 2,250 Sales 115,250 Sales discounts 1,300 Sales returns and allowances 2,100 Cost of goods sold 33,000 Depreciation expenseStore equipment 0 Salaries expense 23,400 Insurance expense 0 Rent expense 14,000 Store supplies expense 0 Advertising expense 9,600 Totals $16?,300 $157,300 Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system. Additional Information: a. Store supplies still available at scal year-end amount to $2,550. b. Expired insurance, an administrative expense, for the scal year is $1,700. 1:. Depreciation expense on store equipment, a selling expense, is $1200 for the scal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken- It shows $10,700 of inventory is still available at scal yearend. 4. Compute the current ratio, acidtest ratio, and gross margin ratio as of January 31, 201'}. {Round your answers to 2 decimal places.) Salaries expense 23,400 Insurance expense 0 Rent expense is , 000 Store supplies expense 0 Advertising expense 9 , 600 Totals $16?,300 $16?,300 Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system. Additional Information: a. Store supplies still available at scal yearend amount to $2,550. b. Expired insurance, an administrative expense, for the scal year is $1300. 1:. Depreciation expense on store equipment, a selling expense, is $1,700 for the scal year. It. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,700 of inventory is still available at scal yearend. 4. Compute the current ratio, acidtest ratio, and gross margin ratio as of January 31, 2017. {Round your answers to 2 decimal places.)