Refer to the data given. (Click the icon to view the data.) Read the requirements. Requirement 1. Compute all ratio values to answer the following questions: Which company has the highest and which company has the lowest gross profit percentage? Which company has the highest and which has the lowest rate of inventory turnover? Let's calculate the gross profit percentage and inventory turnover for each company. (Round the inventory turnover rates to one decimal place, X.X, and the gross profit percentage to the nearest tenth percent, X.X%.) Gross Profit Percentage Inventory Turnover Company X Reference Lane. % Adams % Hartt % Net Matthews % Which company has the highest and which company has the lowest gross profit percentage? Beginning Company Net Sales Inventory Lane $ 103,000 $ 21,000 $ 140,000 29,000 98,000 36,000 83,000 10,000 Ending Purchases Inventory 58,000 $ 19,000 $ 90,000 26,000 59,000 26,000 8,000 Cost of Goods sold 60,000 $ 93,000 69,000 32,000 has the highest gross profit percentage. Adams Hartt has the lowest gross profit percentage. Matthews 30,000 Which company has the highest and which has the lowest rate of inventory turnover? Print Done has the highest rate of inventory turnover. has the lowest rate of inventory turnover. Requirement 2. Based on your figures, which company appears to be the most profitable? This ratio data suggests that is the most profitable company. Enter any number in the edit fields and then continue to the next question. Gross Profit 43,000 47,000 29,000 51,000