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The following unadjusted trial balance is prepared at fiscal year$-$end for Nelson Company. Nelson Company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense$$Store Equipment, Sales Salaries Expense, Rent Expense$$Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative.

NELSON COMPANY

Unadjusted Trial Balance

January $31$

Debit Credit

Cash $ $15,700$

Merchandise inventory $14,000$

Store supplies $5,400$

Prepaid insurance $2,200$

Store equipment $42,600$

Accumulated depreciation$$Store equipment $ $17,100$

Accounts payable $17,000$

Common stock $4,000$

Retained earnings $28,000$

Dividends $2,150$

Sales $115,700$

Sales discounts $2,050$

Sales returns and allowances $2,200$

Cost of goods sold $38,000$

Depreciation expense$$Store equipment $0$

Sales salaries expense $15,500$

Office salaries expense $15,500$

Insurance expense $0$

Rent expense$$Selling space $8,500$

Rent expense$$Office space $8,500$

Store supplies expense $0$

Advertising expense $9,500$

Totals $ $181,800$ $ $181,800$

Additional Information:

Store supplies still available at fiscal year$-$end amount to $$2,300.$

Expired insurance, an administrative expense, is $$1,450$ for the fiscal year.

Depreciation expense on store equipment, a selling expense, is $$1,600$ for the fiscal year.

To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $$10,900$ of inventory is still available at fiscal year$-$end.

$4.$ Compute the current ratio, acid$-$test ratio, and gross margin ratio as of January $31.$

Note: Round your answers to $2$ decimal places.