Financial Statements Current Year Preceding Year Balance Sheet: Cash 18,000 $ 21,000 Short-term Investments 17,000 21,000 Net Accounts Receivables 58,000 88,000 Merchandise Inventory 78,000 82,000 18,000 4,000 Prepaid Expenses Total Current Assets 189,000 216,000 Total Current Liabilities 135,000 82,000 Income Statement: Net Credit Sales $ 474,000 Cost of Goods Sold 310,000 Print Done Days' sales in receivables = 365 days / Accounts receivable turnover ratio g. Compute the gross profit percentage for the current year. (Round your answer to one tenth o Gross profit percentage Gross profit / Net sales revenue