Data Table

	Current Year	Previous Year
Balance Sheet
Cash. . . . . . . . . . . . . . . . .	$25,000	$33,000
Short-term investments. . . .	16,000	27,000
Accounts receivables, net. . .	55,000	74,000
Inventory. . . . . . . . . . . . . .	55,000	51,000
Prepaid expenses. . . . . . . . .	5,000	13,000
Total current assets. . . . . . . .	156,000	198,000
Accounts payable. . . . . . . . .	41,000	38,000
Total current liabilities. . . . .	95,000	89,000
Income Statement
Net sales. . . . . . . . . . . . . . . .	$464,000
Cost of goods sold. . . . . . . . .	370,000
Net income. . . . . . . . . . . . . . .	55,000

Requirement 1f. Compute the gross profit percentage. (Round the percentage to the nearest tenth of a percent X.X%.) Gross profit percentage %