The following selected accounts were taken from the financial records of Los Olivos Distributors at December 31, 2019. All accounts have normal balances.

Cash	$	25,830
Accounts receivable		45,700
Note receivable, due 2020		7,500
Merchandise inventory		33,700
Prepaid insurance		2,150
Supplies		1,210
Equipment		41,500
Accumulated depreciation, equipment		21,500
Note payable to bank, due 2020		15,000
Accounts payable		34,250
Interest payable		150
Sales		520,000
Sales discounts		1,200
Cost of goods sold		334,110

Accounts Receivable at December 31, 2018, was $57,550. Merchandise inventory at December 31, 2018, was $56,600. Based on the account balances above, calculate the following:

1. The gross profit percentage
2. Working capital.
3. The current ratio.
4. The inventory turnover.
5. The accounts receivable turnover. All sales were on credit.

Both Numerator and Denominator list of Titling entries include the following:

• Accounts payable //Accounts receivable// Average accounts receivable// Average inventory// Cash// Cost of goods sold// Current assets// Current liabilities //Gross profit // Merchandise inventory // Net credit sales// Net sales // Quick assets // Total assets//

Complete this question by entering your answers in the tabs below Required A Gross Profit Percentage Required B-Working Capital Required C Current Ratio Required D Inventory Turnover Required E Accounts Receivable Turnover, All sales were on credit. All tabs look exactly as you see here, however TAB B has a Minus sign while all the other TABS has a Division sign between the Numerator and Denominator. Required Required b Required Required d Required e The gross profit percentage Gross Profit Percentage Choose Denominator Gross Profit Percentage Accounts payable Choose Numerator Accounts payable Required b >