Exercise 13.9 (Algo) Calculating ratios. LO 13-6 The following selected accounts were taken from the financial records of Livermore Valley Distributors at December 31, 20X1. All accounts have normal balances. Cash $ 24,940 Accounts receivable 46,300 Note receivable, due 20X2 8,100 Merchandise inventory 34,300 Prepaid insurance 2,210 Supplies 1,270 Equipment 42,100 Accumulated depreciation, equipment 22,100 Note payable to bank, due 20X2 21,000 Accounts payable 27,590 Interest payable 210 Sales 523,000 Sales discounts 1,800 Cost of goods sold 384,300 Accounts Receivable at December 31, 20X0, was $56,050. Merchandise Inventory at December 31, 20X0, was $57,200. Based on the account balances above, calculate the following: The gross profit percentage. Working capital. The current ratio. The inventory turnover. The accounts receivable turnover. All sales were on credit