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Required information [ The following information applies to the questions displayed below. ] The following unadjusted trial balance is prepared at fiscal year - end
Required information
The following information applies to the questions displayed below.
The following unadjusted trial balance is prepared at fiscal yearend for Nelson Company. Nelson Company uses a
perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation ExpenseStore
Equipment, Sales Salaries Expense, Rent ExpenseSelling Space, Store Supplies Expense, and Advertising Expense. It
categorizes the remaining expenses as general and administrative.
Compute the current ratio, acidtest ratio, and gross margin ratio as of January
lote: Round your answers to decimal places.
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