The following selected accounts were taken from the financial records of Los Olivos Distributors at December 31, 2019. All accounts have normal balances. Cash 22,810 45,800 Accounts receivable Note receivable, due 2020 Merchandise inventory 7,600 33,800 Prepaid insurance Supplies Equipment Accumulated depreciation, equipment Note payable to bank, due 2020 Accounts payable Interest payable Sales Sales discounts Cost of goods sold 2,160 1,220 41,600 21,600 16,000 33,140 160 520,500 1,300 330,325 Accounts Receivable at December 31, 2018, was $57,300. Merchandise inventory at December 31, 2018, was $56,700. 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 d Required e The gross profit percentage. Gross Profit Percentage Gross Profit Percentage Choose Numerator Choose Denominator Complete this question by entering your answers in the tabs below. Required a Required d Required b Required c Required e Working capital. Working Capital Choose Numerator Choose Denominator Working capital Complete this question by entering your answers in the tabs below. Required b Required c Required e Required a Required d The current ratio. Current Ratio Current Ratio Choose Numerator Choose Denominator Required b Required d Complete this question by entering your answers in the tabs below. Required a Required b Required c Required d Required e The inventory turnover. Inventory Turnover Inventory Turnover Choose Numerator Choose Denominator times + Complete this question by entering your answers in the tabs below. Required d Required a Required b Required c Required e The accounts receivable turnover. All sales were on credit. Accounts Receivable Turnover Choose Numerator Choose Denominator Accounts Receivable Turnover times Required e Required d