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The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company NELSON COMPANY Unadjusted Trial Balance January 31, 2017 Credit Debit $ 41,300
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company NELSON COMPANY Unadjusted Trial Balance January 31, 2017 Credit Debit $ 41,300 14, eee 5,500 2,100 42,500 $ 19,300 17,880 3,480 17,200 2,850 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-Store equipment Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense-Store equipment Salaries expense Insurance expense Rent expense Store supplies expense Advertising expense Totals 146,280 2,800 2,850 38,280 30, 200 14,800 9,200 $ 202,900 $ 202,900 Rent expense and salarles expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual Inventory system. Additional Information: a. Store supplies still available at fiscal year-end amount to $2,650. b. Expired Insurance, an administrative expense, for the fiscal year is $1,800. c. Depreciation expense on store equipment, a selling expense, is $1,675 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise Inventory is taken. It shows $10,200 of Inventory is still available at fiscal year-end. 4. Compute the current ratio, acid-test ratio, and gross margin ratlo as of January 31, 2017. (Round your answers to 2 decimal places.) Current ratio Acid-test ratio Gross margin ratio
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