ED-20 Computing key ratios The financial statements of Victory's Natural Foods include the following items Current Year Preceding Year Balance Sheet: Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Income Statement: Net Credit Sales Cost of Goods Sold $ 20,000 18,000 50,000 70,000 12,000 170,000 129,000 $ 24,000 26,000 78,000 66,000 10,000 204,000 92,000 $478,000 318,000 Compute the following ratios for the current year: a. Current ratio b. Cash ratio c. Acid-test ratio d. Inventory turnover e. Days sales in inventorv f. D g. Gross profit percentage (assume all ays sales in receivables sales are on credit)