The financial statements of Nitrate Corporation include the following items: B!! (Click the icon to view the data.) Compute the following ratios for the current year: i (Click the icon to view the ratios.) 7. Compute the current ratio for the current year. Begin by selecting the formula labels, then enter the amounts and compute the current ratio for the current year. (Round your answer to two decimal places. X.XX.) = Current ratio 8. Compute the acid-test ratio for the current year. Select the formula labels, enter the amounts and compute the acid-test ratio for the current year. (Abbreviations used: Net AR = Net Accounts Receivables, Merchandise Inv. = Merchandise Inventory. ST investments = Short-term Investments. Round your answer to two decimal places, X.XX.) Acid-test ratio + + = 9. Compute the inventory turnover for the current year. Begin by selecting the formula labels, then enter the amounts and compute the inventory turnover for the current year. (Round your answer to two decimal places, X.XX.) = Inventory turnover 10. Compute the gross profit percentage for the current year. Begin by selecting the formula labels, then enter the amounts and compute the gross profit percentage for the current year. (Round your answer to the nearest whole percent, X%). = Gross profit percentage Data Table - X Current Year Preceding Year Balance Sheet: Cash 10.000 $ Short-term Investments 5.800 14.000 11.900 23.100 29.700 Net Accounts Receivable 20.800 Merchandise inventory 4.800 Prepaid Expenses Total Current Assets 30.100 6.500 73.200 56.000 83.500 38.900 Total Current Liabilities Income Statement: 187.100 Net Sales Revenue Cost of Goods Sold 124.300