At December 1, 2020, Imalda Inc. reported the following information on its statement of financial position: The following transactions were completed during December 2020: 2/10,n/60. The total cost of sales was $35,000. December 12 Collected cash for half of the credit sales made on December 5 . December 20 Collected $90,000 in cash from customers for credit sales made in November 2020 . close its business in December. The full amount was considered uncollectible. Imalda uses the aging of accounts receivable method to determine bad debt expense. The aging schedule at December 31, 2020, gives the following information about the accounts receivable estimated uncollectible: 3. Compute the gross profit percentage and the receivables turnover ratio for December 2020. (Round the final answers to 2 decimal places.) Answer is complete but not entirely correct