The financial statements of Copper Corporation include the following items: Compute the following ratios for the current year (Click the icon to view the ratios.) (Click the icon to vew the data.) Current Year Preceding Year Balance Sheet: 7,000 12,700 21,300 29,700 5,100 75,800 38,300 16,000 S Cash Short-terrn Investments Net Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities 7. Compute the current ratio for the current year 5,200 20,700 31,200 6,400 79,500 55,900 Begin by selecting the formula labels, then enter the amounts and compute the current ratio for the current year. (Round your answer to two decimal places, XXx.) current ratio 8. Compute the acid-test ratio for the current year Select the formula labels enter the amounts and compute the acid-test ratio for the current year. (Abbreviations used: Net AR = Net Accounts Receivables. Merchandise Inv: Merchandise Inventory, ST investments = Short-term Investments Round your answer to two decimal places, XXX) Income Statement: Acid-test Net Sales Revenue 188,600 ratio Cost of Goods Sold 125,100 T. Current ratio 8. Acid-test ratio 9. Inventory turnover 10. Gross profit percentage 9. Compute the inventory tumover for the current year. Begin by selecting the formula labels, then enter the amounts and compute the inventory turnover for the current year. Round your answer to two decimal places Inventory turnover 10. Compute the gross profit percentage for the current year Begin by selecting the formula labels, then enter the amounts and compute the gross profit percentage for the current year. (Round your answer to the nearest whole percent, X%) Gross profit percentage