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Consider the following information from the financial statements for Rock Inc. Last Year This Year Accounts Receivable 22,499 20,667 Inventory 30,491 36,869 Total Current Assets

Consider the following information from the financial statements for Rock Inc.

Last Year This Year
Accounts Receivable 22,499 20,667
Inventory 30,491 36,869
Total Current Assets 180,688 151,813
Total Assets 458,399 440,185
Total Current Liabilities 29,441 20,617
Total Liabilities 338,182 247,559
Sales 459,715
Cost of Goods Sold 115,910
Operating Expenses 139,991
Tax Expense 6

Calculate this years' gross profit ratio. (enter 2 decimal places. e.g. enter .2968 as .30)

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