6 January 31 Cash Debit $ 1,000 Credit Merchandise inventory 12,500 Store supplies 5,800 Prepaid insurance 2,400 Part 2 of 2 Store equipment 42,900 Accumulated depreciation-Store equipment $ 15,250 Accounts payable 10,000 3. Nelson, Capital 32,000 0 points 3. Nelson, Withdrawals 2,200 Sales 111,950 Sales discounts 2,000 Sales returns and allowances 2,200 Cost of goods sold 38,400 Depreciation expense-Store equipment 0 eBook Sales salaries expense 17,500 Office salaries expense 17,500 Insurance expense e Rent expense-selling space 7,500 7,500 Print References Rent expense-office space Store supplies expense Advertising expense Totals Additional Information: 9,800 $ 169,200 $ 169,200 a. Store supplies still available at fiscal year-end amount to $1,750. b. Expired insurance, an administrative expense, is $1,400 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1,525 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise Inventory is taken. It shows $10,900 of inventory is still available at fiscal year-end. 4. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31. (Round your answers to 2 decimal places.) Current ratio 1 Acid-test ratio : 1 Gross margin ratio 1