Thank you!

Calculate the current ratio

The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company.

NELSON COMPANY Unadjusted Trial Balance January 31, 2015
	Debit		Credit
Cash	$	30,200
Merchandise inventory		12,500
Store supplies		5,200
Prepaid insurance		2,800
Store equipment		43,000
Accumulated depreciationStore equipment			$	17,500
Accounts payable				17,000
Common stock				19,000
Retained earnings				20,000
Dividends		2,250
Sales				116,150
Sales discounts		2,000
Sales returns and allowances		2,100
Cost of goods sold		38,000
Depreciation expenseStore equipment		0
Salaries expense		26,300
Insurance expense		0
Rent expense		16,000
Store supplies expense		0
Advertising expense		9,300
Totals	$	189,650	$	189,650

Rent expense and salaries expense are equally divided between selling activities and the general and administrative activities. Nelson Company uses a perpetual inventory system.

Additional Information:
a.	Store supplies still available at fiscal year-end amount to $1,750.
b.	Expired insurance, an administrative expense, for the fiscal year is $1,500.
c.	Depreciation expense on store equipment, a selling expense, is $1,675 for the fiscal year.
d.	To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,100 of inventory is still available at fiscal year-end.

The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2015 Debit Credit Cash $ 30,200 Merchandise inventory 12,500 Store supplies 5,200 Prepaid insurance 2,800 Store equipment 43,000 Accumulated depreciationStore equipment $ 17,500 Accounts payable 17,000 Common stock 19,000 Retained earnings 20,000 Dividends 2,250 Sales 116,150 Sales discounts 2,000 Sales returns and allowances 2,100 Cost of goods sold 38,000 Depreciation expenseStore equipment 0 Salaries expense 26,300 Insurance expense 0 Rent expense 16,000 Store supplies expense 0 Advertising expense 9,300 Totals $ 189,650 $ 189,650 Rent expense and salaries expense are equally divided between selling activities and the general and administrative activities. Nelson Company uses a perpetual inventory system. Additional Information: a. Store supplies still available at fiscal year-end amount to $1,750. b. Expired insurance, an administrative expense, for the fiscal year is $1,500. c. Depreciation expense on store equipment, a selling expense, is $1,675 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,100 of inventory is still available at fiscal year-end. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31, 2015. (Round your answers to 2 decimal places.) The current ratio, acid-test, and gross margin have been hard to calculate.

The ratio calculated was 2.55, but the acid is not 1.88 and the percentage is not 63.94.