The following selected accounts were taken from the financial records of Los Olivos Distributors at December 31, 2019. All accounts have normal balances. Cash Accounts receivable Note receivable, due 2020 Merchandise inventory Prepaid insurance Supplies Equipment Accumulated depreciation, equipment Note payable to bank, due 2020 Accounts payable Interest payable Sales Sales discounts Cost of goods sold $ 27,215 47,000 8,800 35,000 2,280 1,340 42,800 22,800 28,000 19,420 280 526,500 2,500 408,320 Accounts Receivable at December 31, 2018, was $53,300. Merchandise inventory at December 31, 2018. was $57.800. 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 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 Choose Denominator Choose Numerator Gross Profit Percentage Required a Required b ) Complete this question by entering your answers in the tabs below. Required a Required b Required c Required d Required e Working capital. Working Capital Choose Denominator Choose Numerator Working capital Required a Required ) JL. JUILJ Weie Un lieuit. Complete this question by entering your answers in the tabs below. Required a Required b Required c Required d Required e The current ratio. Current Ratio Choose Denominator Choose Numerator Current Ratio Complete this question by entering your answers in the tabs below. Required a Required b Required c Required d Required el The inventory turnover. Inventory Turnover Choose Denominator Choose Numerator Inventory Turnover times Complete this question by entering your answers in the tabs below Required a Required b Required c Required d Required e The accounts receivable turnover. All sales were on credit. Accounts Receivable Turnover Choose Denominator Accounts Receivable Turnover Choose Numerator times