The financial statements of Ocean, Inc., include the following items: (Click the icon to view the financial statements.) Read the requirement. Requirement 1a. Compute the current ratio. Select the formula and then enter the amounts to calculate the current ratio for the current year. (Round your answer to two decimal places.) Current assets 1 Current liabilities Current ratio - = - - X Data table Requirement 1b. Compute the quick ratio. (Round your answer to two decimal places.) = Quick ratio ) )/ Current Year Previous Year Requirement 1c. Compute the cash conversion cycle. (Do not round any intermediary calculations. Round to the nearest full day and use a 365-day year for your computations.) Balance Sheet Cash Short-term investments $ 37,000 34,000 Cash conversion cycle days 27,000 $ 11,000 55,000 60,000 72,000 58.000 Requirement 1d. Compute the accounts receivable turnover. (Round your answer to two decimal places.) 10,000 Accounts receivable turnover times Accounts receivables, net Inventory Prepaid expenses Total current assets Accounts payable Total current liabilities Income Statement 163.000 45,000 13,000 214,000 36,000 95,000 100,000 Requirement 1e. Compute the inventory turnover. (Round your answer to two decimal places.) = Inventory turnover times Net sales Cost of goods sold Net income 660,000 325,500 56,000 Requirement 1f. Compute the gross profit percentage. (Round the percentage to the nearest tenth of a percent XX%.) X Gross profit percentage % Requirement 1g. Compute the net income percentage. (Round the percentage to the nearest tenth of a percent X.X%.) | Print Done X = Net income percentage = %