The following selected accounts were taken from the financial records of Livermore Valley Distributors at December...

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The following selected accounts were taken from the financial records of Livermore Valley Distributors at December 31, 20X1. All accounts have normal balances. Cash Accounts receivable Note receivable, due 20x2 $ 24,948 46,300 8,100 34,300 Merchandise inventory Prepaid insurance 2,210 Supplies 1,270 Equipment 42,100 Accumulated depreciation, equipment 22,100 Note payable to bank, due 28x2 21,000 Accounts payable 27,590 Interest payable 210 523,000 Sales Sales discounts Cost of goods sold 1,800 384,300 Accounts Receivable at December 31, 20X0, was $56,050. Merchandise Inventory at December 31, 20X0, was $57,200. Based on the account balances above, calculate the following: a. The gross profit percentage. b. Working capital. c. The current ratio. d. The Inventory turnover. e. The accounts receivable turnover. All sales were on credit. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E The gross profit percentage. Choose Numerator Gross profit Gross Profit Percentage Choose Denominator Net sales Gross Profit Percentage Required A Required B Required C Required D Required E Working capital. Current assets $ Working Capital Current liabilities Working capital 109,020 $ 27,800 |= S 81,220 Required A Required B Required C Required D Required E The current ratio. Current Ratio Choose Numerator Current assets Choose Denominator Current liabilities $ 109,020 + S 27,800 Current Ratio 3.92 Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E The accounts receivable turnover. All sales were on credit. Accounts Receivable Turnover Choose Numerator Net sales Choose Denominator Average accounts receivable Accounts Receivable Turnover $ 521,200 51,175 10.18 times < Required D Required E > The following selected accounts were taken from the financial records of Livermore Valley Distributors at December 31, 20X1. All accounts have normal balances. Cash Accounts receivable Note receivable, due 20x2 $ 24,948 46,300 8,100 34,300 Merchandise inventory Prepaid insurance 2,210 Supplies 1,270 Equipment 42,100 Accumulated depreciation, equipment 22,100 Note payable to bank, due 28x2 21,000 Accounts payable 27,590 Interest payable 210 523,000 Sales Sales discounts Cost of goods sold 1,800 384,300 Accounts Receivable at December 31, 20X0, was $56,050. Merchandise Inventory at December 31, 20X0, was $57,200. Based on the account balances above, calculate the following: a. The gross profit percentage. b. Working capital. c. The current ratio. d. The Inventory turnover. e. The accounts receivable turnover. All sales were on credit. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E The gross profit percentage. Choose Numerator Gross profit Gross Profit Percentage Choose Denominator Net sales Gross Profit Percentage Required A Required B Required C Required D Required E Working capital. Current assets $ Working Capital Current liabilities Working capital 109,020 $ 27,800 |= S 81,220 Required A Required B Required C Required D Required E The current ratio. Current Ratio Choose Numerator Current assets Choose Denominator Current liabilities $ 109,020 + S 27,800 Current Ratio 3.92 Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E The accounts receivable turnover. All sales were on credit. Accounts Receivable Turnover Choose Numerator Net sales Choose Denominator Average accounts receivable Accounts Receivable Turnover $ 521,200 51,175 10.18 times < Required D Required E >