Please help compute the current ratio, acid-test ratio, and gross margin ratio ...
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Accounting
Please help compute the current ratio, acid-test ratio, and gross margin ratio
NELSON COMPANY Unadjusted Trial Balance January 31 Credit Debit $ 22,000 14,500 5,400 2,500 43,80 $ 18,950 15,00 37,000 2,050 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-Store equipment Accounts payable 3. Nelson, Capital 3. Nelson, Withdrawals 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 115,500 2, ese 2,05e 38,000 14,300 14,390 8,500 8,500 9,300 $ 186,450 $ 186,450 Additional Information: a. Store supplies still available at fiscal year-end amount to $2,750 b. Expired insurance, an administrative expense, is $1700 for the fiscal year c. Depreciation expense on store equipment, a selling expense, is $1.550 for the fiscal year d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,600 of inventory available at fiscal year-end. 4. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31. (Round your answers to 2 decimal p Current ratio Acid-test ratio Gross margin ratio 11
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