The financial statements of lon Corporation include the following items: (Click the icon to view the data.) Compute the following ratios for the current year: (Click the icon to view the 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, XXX) Current ratio 7. Current ratio 8. Acid-test ratio 9. Inventory turnover 10. Gross profit percentage Balance Sheet: Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Current Year Preceding Year $ 6,000 $ 8,000 4,400 10,700 21,600 29,200 30,800 27,600 6,000 3,600 68,800 79,100 53,200 37,200 Income Statement: Net Sales Revenue $ 184,800 Cost of Goods Sold 126,000