Selected financial statement data from Western Colorado Stores is shown below. Net sales Cost of goods sold Operating expenses Inventory Required: 2024 $ 825,000 2023 $ 845,000 660,000 680,000 120,000 122,000 100,000 98,000 1. Compute the gross profit ratio for 2024. Note: Round your "Percentage" answer to two decimal places (i.e., 0.1234 should be entered as 12.34). 2. Compute the inventory turnover ratio for 2024. Note: Round your answer to two decimal places. 1. Gross profit ratio 2. Inventory turnover ratio %