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Consider the following information from the financial statements for Rock Inc. Last Year This Year Accounts Receivable 25,316 24,621 Inventory 39,081 36,776 Total Current Assets

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

Last Year This Year
Accounts Receivable 25,316 24,621
Inventory 39,081 36,776
Total Current Assets 144,888 124,335
Total Assets 448,597 451,544
Total Current Liabilities 22,884 24,910
Total Liabilities 260,458 330,533
Sales 471,370
Cost of Goods Sold 142,148
Operating Expenses 106,554
Tax Expense 10

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

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