The following selected accounts were taken from the financial records of Los Olivos Distributors at December 31, 2019. All accounts have normal balances, Cash Accounts receivable Note receivable, due 2020 Merchandise inventory Prepaid insurance Supplies Equipment Accumulated depreciation, equipment Note payable to bank, due 2020 Accounts payable Interest payable Sales Sales discounts Cost of goods sold $ 27,945 46,200 8,000 34,200 2,200 1,260 42,000 22,000 20,000 28,700 200 522,500 1.700 388,025 Accounts Receivable at December 31, 2018, was $56,300 Merchandise inventory at December 31, 2018, was $57100 Based on the account balances above, calculate the following: a. The gross profit percentage. b. Working capital c. The current ratio, d. The inventory turnover e. The accounts receivable turnover. All sales were on credit Complete this question by entering your answers in the tabs below. Required a Required b Required c Required a Required e The gross profit percentage. Gross Profit Percentage Choose Denominator Choose Numerator Gross Profit Percentage Required b> Complete this question by entering your answe wers in the tabs below. Required a KERETES Required b Required Required d Required e k Working capital Working Capital Choose Denominator ces Choose Numerator Working capital MI Chapter 13 Homework X asion Chapter Chapter 13 - Financial ducation.com/ext/map/index.html?_con=con&external browser=0&launchUrl=https% mework i Saved 0. mne vertory turnover. e. The accounts receivable turnover. All sales were on credit. Complete this question by entering your answers in the tabs below. Required a Required b Required c Required a Required e The current ratio. Current Ratio Choose Denominator Choose Numerator Current Ratio Complete this question by entering your answers in the tabs below. Required a Required b Required Required a Required e The accounts receivable turnover. All sales were on credit. Accounts Receivable Turnover Choose Denominator Accounts Receivable Turnover Choose Numerator times