More Info - X The financial statements of Sulfate Corporation include the following items: E (Click the icon to view the data.) Compute the following ratios for the current year: (Click the icon to view the ratios.) 7. Current ratio 8. Acid-test ratio 9. Inventory turnover 10. Gross profit percentage 7. Compute the current ratio for the current year. Begin by selecting the formula labels, then enter the amounts and compute the current ratio for the current year. (Round your answer to two decimal places, XXX.) Current ratio Print Done 8. Compute the acid-test ratio for the current year. Select the formula labels, enter the amounts and compute the acid-test ratio for the current year. (Abbreviations used: Net AR = Net Accounts Receivables, Merchandise Inv. = Merchandise Inventory, ST investments - Short-term Investments. Round your answer to two decimal places, X.XX.) Acid-test Data Table ) ratio 9. Compute the inventory turnover for the current year. Begin by selecting the formula labels, then enter the amounts and compute the inventory turnover for the current year. (Round your answer to two decimal places, X.XX.) Current Year Preceding Year Balance Sheet: Inventory turnover Cash 9,000 10,000 $ 5,900 12,100 10. Compute the gross profit percentage for the current year. 20,700 22,100 Begin by selecting the formula labels, then enter the amounts and compute the gross profit percentage for the current year. (Round your answer to the nearest whole percent, X%). Short-term Investments Net Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets 25,100 31,200 8,000 Gross profit percentage 75,800 4,000 72,300 37.900 % Total Current Liabilities 54,800 Income Statement: Net Sales Revenue $ 188,600 Cost of Goods Sold 124,200 Print Done Choose from any list or enter any number in the input fields and then continue to the next