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I found the Current Ratio and the Acid-test ratio, if you could help me find the gross margin ratio, that would be great. [The following

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I found the Current Ratio and the Acid-test ratio, if you could help me find the gross margin ratio, that would be great.

image text in transcribedimage text in transcribed
[The following information applies to the questions displayed below. ] The following unadjusted trial balance is prepared at scal yearend for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2618 Debit Credit Cash $ 1,666 Merchandise inventory 12,566 Store supplies 5,366 Prepaid insurance 2,466 Store equipment 42,966 Accumulated depreciationStore equipment $ 15,256 Accounts payable 16,666 Common stock 5,666 Retained earnings 27,666 Dividends 2,266 Sales 111,956 Sales discounts 2,666 Sales returns and allowances 2,266 Cost of goods sold 38,466 Depreciation expenseStore equipment 6 Salaries expense 35,666 Insurance expense 6 Rent expense 15,666 Store supplies expense 6 Advertising expense 9,366 Totals $169,266 $169,266 Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system. Additional Information: Store supplies still available at fiscal year-end amount to $1,750. Expired insurance, an administrative expense, for the fiscal year is $1,400. Depreciation expense on store equipment, a selling expense, is $1,525 for the scal year. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,900 of inventory is still available at scal yearend. 9-99"? 4. Compute the current ratio, acidtest ratio, and gross margin ratio as of January 31, 2018. (Round your answers to 2 decimal places.) ounentrauo _n Gross margin ratio 65.70 %

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