The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation ExpenseStore Equipment, Sales Salaries Expense, Rent ExpenseSelling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative.

Additional Information:

1. Store supplies still available at fiscal year-end amount to $2,150.
2. Expired insurance, an administrative expense, is $1,400 for the fiscal year.
3. Depreciation expense on store equipment, a selling expense, is $1,500 for the fiscal year.
4. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,900 of inventory is still available at fiscal year-end.

Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31.

p.s. last Chegg expert said 2.21 -> it was wrong.

Credit Debit $ 24,350 15,000 5,600 2,300 42,800 $ 18,050 12,000 5,000 34,000 NELSON COMPANY Unadjusted Trial Balance January 31 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 Sales salaries expense Office salaries expense Insurance expense Rent expense-Selling space Rent expense office space Store supplies expense Advertising expense Totals 2,200 116,400 1,900 2,200 38,000 0 14,000 14,000 0 7,000 7,000 0 9, 100 $185,450 $ 185,450