This is first-year university accounting, please answer quickly.

- 20. Gross profit margin = (Sales - Cost of sales) / Sales 21. Average days to collect receivables = 365 | Receivables turnover ra On May 1XOX Inc purchased $ 30000 inventory on credit from one of its suppliers. Prior to the purchase, XX Inc had current liabilities of 105000 and a quick ratio of 3. Calculate XX Ine's new quick ratio after the purchase of inventory on credit Round your answer to two decimal places, eg,0.86. Quick assets are defined as cash and near-cash assets, induding cash, short-term investments, and accounts resirable Inet of allowance for doubtful accounts) and exduding inventories. You