The financial statements of Silver 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, X.XX.) Current ratio Data Table X More Info Current Year Preceding Year Balance Sheet: Cash $ 12,000 $ 16,000 Short-term Investments 6,500 12,600 7. Current ratio 8. Acid-test ratio 9. Inventory turnover 10. Gross profit percentage 21,300 21,300 33,400 28,300 7,100 4,900 Print Done 80,300 83,100 Net Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Income Statement: Net Sales Revenue Cost of Goods Sold 55,300 38.900 $ 189.300 127,100 Print Done Choose from any drop-down list and then click Check Answer. parts remaining Clear All