Selected financial statement data from Western Colorado Stores is shown below. Net sales Cost of goods sold Operating expenses Inventory 2021 $ 680,000 544,000 124,000 109,000 2020 $700,000 564,000 104,000 61,000 Required: 1. Compute the gross profit ratio for 2021. (Round your "Percentage" answer to two decimal places (i.e., 0.1234 should be entered as 12.34).) 2. Compute the inventory turnover ratio for 2021. (Round your answer to two decimal places.) 1. Gross profit ratio 2. Inventory turnover ratio