The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company.

NELSON COMPANY Unadjusted Trial Balance January 31, 2016
	Debit			Credit
Cash	$	25,450
Merchandise inventory		15,000
Store supplies		5,900
Prepaid insurance		2,200
Store equipment		42,900
Accumulated depreciationStore equipment				$	16,500
Accounts payable					17,000
Common stock					18,000
Retained earnings					24,000
Dividends		2,150
Sales					115,700
Sales discounts		1,950
Sales returns and allowances		2,250
Cost of goods sold		38,000
Depreciation expenseStore equipment		0
Salaries expense		29,300
Insurance expense		0
Rent expense		17,000
Store supplies expense		0
Advertising expense		9,100
Totals	$	191,200		$	191,200

Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system.

Additional Information:

Store supplies still available at fiscal year-end amount to $2,000.

Expired insurance, an administrative expense, for the fiscal year is $1,750.

Depreciation expense on store equipment, a selling expense, is $1,675 for the fiscal year.

To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,800 of inventory is still available at fiscal year-end.

1.Prepare a multiple-step income statement for fiscal year 2016

2.Prepare a single-step income statement for fiscal year 2016

3.Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31, 2016. (Round your answers to 2 decimal places.)