The financial statements of Iron Corporation include the following items:

View the data.

Compute the following ratios for the current year:

rew the required ratios

$7.$ Compute the current ratio for the current year.

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, X$.$XX$.)$

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$8.$ 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. $($Round your answer to two decimal places, X$.$XX$.)$

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$9.$ Compute the inventory turnover 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, $x.$ XX$.)$

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$10.$ 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

$=,\%$