Question 7: (from chapter 47) From the same information in the previous question (Question 6), calculate the
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Question 7: (from chapter 47) From the same information in the previous question (Question 6), calculate the following ratios for the business for both 2017 and 2018 separately, and at the end, briefly comment on the changes in the accounting ratios and the firm's financial position from 2017 to 2018:a) Gross profit as % of salesb) Inventory turnoverd) Current ratioe) Acid test ratiof) Account receivable/sales ratiog) Account payable/purchases ratio Question is above, below in the image is the source to answer the question.
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