x . i Data Table Current Year Preceding Year Balance Sheet: Cash $ 16,000 $ 7,000 6,200 20,400 31,800 12,100 22,100 29,700 Short-term Investments Net Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Income Statement: Net Sales Revenue 8,200 82,600 4,100 75,000 54,100 38,300 $ 187,600 120,500 Cost of Goods Sold 9. Compute the inventory turnover for the current year. Begin by selecting the formula labels, then enter the amounts and compute the inventory turnover for the current year. (Round your answer to two decimal places, X.XX.) Inventory turnover 10. Compute the gross profit percentage for the current year. Begin by selecting the formula labels, then enter the amounts and compute the gross profit percentage for the current year. (Round your answer to the nearest whole percent, X%). Gross profit percentage % The financial statements of Sulfate Corporation include the following items: E (Click the icon to view the data.) Compute the following ratios for the current ye (Click the icon to view the ratios.) 7. Compute the current ratio for the current year. 7. Current ratio 8. Acid-test ratio 9. Inventory turnover 10. Gross profit percentage Begin by selecting the formula labels, then enter the amounts and compute the current ratio for the current year. (Round your answer to two decimal places, X.XX.) Current ratio Print Done 8. Compute the acid-test ratio for the current year. Select the formula labels, enter the amounts and compute the acid-test ratio for the current year. (Abbreviations used: Net AR = Net Accounts Receivables, Merchandise Inv. = Merchandise Inventory, ST investments = Short-term Investments. Round your answer to two decimal places, X.XX.) Acid-test ratio