7. Gross Profit Percentage Monica owns a clothing store that designs and produces high-end clothing for children. She has several different clothing lines and has been very successful. On Monica's income statement at the end of the year we have the following: Calculate Monica's Gross Profit Percentage 8. Accounts Receivable Turnover Ratio Bill's Ski Shop is a retail store that sells outdoor skiing equipment. Bill offers to sell on account to all of his main reoccurring customers. At the end of the year Bill's balance sheet shows $20,000 in Accounts Receivable, $75,000 of gross credit sales, and $25,000 of returns. The previous year's balance sheet showed \$10,000 of Accounts Receivable. Calculate Bill's AR Turnover Ratio: Devin's Long Boards is a retailer that sells surfing equipment to customers and offers sales on accounts due in 30 days. Some customers promptly pay on account while others are delinquent. The company's year-end financial statements show the following