The current year financial statements for Blue Water Company and Prime Fish Company are presented below.

	Blue Water	Prime Fish
Balance sheet
Cash	$ 42,100	$ 19,900
Accounts receivable (net)	43,500	34,300
Inventory	93,500	46,600
Property & equipment (net)	156,500	414,200
Other assets	85,100	316,000
Total assets	$ 420,700	$ 831,000
Current liabilities	$ 93,500	$ 65,500
Long-term debt (interest rate: 15%)	72,700	62,200
Capital stock ($10 par value)	155,700	523,000
Additional paid-in capital	30,100	107,100
Retained earnings	68,700	73,200
Total liabilities and stockholders equity	$ 420,700	$ 831,000
Income statement
Sales revenue (1/2 on credit)	$ 430,500	$ 791,000
Cost of goods sold	(235,500)	(401,100)
Operating expenses	(163,200)	(312,100)
Net income	$ 31,800	$ 77,800
Other data
Per share stock price at end of current year	$ 23.1	$ 26
Average income tax rate	45%	45%
Dividends declared and paid in current year	$ 34,100	$ 153,500

Both companies are in the fish catching and manufacturing business. Both have been in business approximately 10 years, and each has had steady growth. The management of each has a different viewpoint in many respects. Blue Water is more conservative, and as its president has said, We avoid what we consider to be undue risk. Neither company is publicly held.

Required:

1. Using year-end balances for all ratios, compute the following ratios:

Note: Round your intermediate calculations and final answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).

Calculate the Gross Profit Margin Ratio and the Receivable Turnover Ratio for both companies.