16) Mercer, Inc. provides the following data for 2019: Net Sales Revenue Cost of Goods Sold 602,000 380,000 (Round your answer to two decimal 16) The gross profit as a percentage of net sales is places.) A) 35.24% B) 36.88% C) 63.12% D) 38.21% 17). 17) A common-size statement reports the same percentages that appear in a _ A) horizontal analysis B) financial statement C) vertical analysis D) cost statement 18) 18) Which of the following is NOT a decision tool based on working capital? A) cash ratio B) acid-test ratio C) current ratio D) dividend payout ratio 19) The financial statements of Denison Furniture Company include the following items: 2019 2018 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Total Current Liabilities Long-term Note Payable $53,500 29,000 92,000 162,000 532,000 235,000 62,000 $53,000 15,000 105,000 142,000 551,000 215,000 60,000 What is the 2019 cash ratio? (Round your answer to two decimal places) A) 0.18 B) 0.10 C) 0.35 D) 0.23