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The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company, Nelson Company uses a perpetual inventory system It categorizes the following accounts as selling expenses: Depreciation Expense-Store Equipment Sales Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative NELSON COMPANY Unadjusted Trial Balance January 31 Debit Credit Cash $ 24,950 Merchandise inventory 12,500 Store supplies 5,100 Prepad Insurance 2,300 Store equipment 49,000 Accumulated depreciation Store equipment 17,550 Accounts payable 14,000 Common stock 5,000 Retained earnings 32,000 Dividends 2.050 Sales 110,000 Sales discounts 1.050 Sales returns and allowances 2,100 Cost of goods sold 38.000 Depreciation expense-Store equipment Sales salaries expende 10,700 office salles expense I 16,700 Insurance expense Hent expose-selling space Hent Expense office space 6,50 Store supplies expense Advertise 100 CRA 8 Noxt > X Pearson Sign In Walters State MyWS Login x Cengage Digital Learring Bucation.com/ext/map/index.html?_con=con&external browser=0&launchUrl=https%253A%252F%252Fnewconn Saved mework unaojustegiria balonce January 33 Credit Debit $ 24,95 12,500 5, 100 2,300 43,000 5 17.55e 14,90 5,000 32,000 2, ese 114,900 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation Store equipment Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense-Store equipment Sales salaries expense office salaries expense Insurance expense Rent expense-selling space Rent expense-office space Store supplies expense Advertising expense Total 1,950 2,100 38,000 14,700 14,700 6,500 5,500 3 2,100 $183,450 $183,450 Additional Information . Store Supplies still available at fiscalvear-end amount to $2650 [ o a Search Saved Help nework a. Store supplies still available at fiscal year-end amount to $2,650. b. Expired insurance, an administrative expense, is $1.400 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1,575 for the fiscal year d. To estimate shrinkage, a physical count of ending merchandise inventory is taken it shows $10.500 of inventory is still available at fiscal year-end. Problem 4-5A (Algo) Part 4 4. Compute the current ratio, acid-test ratio and gross margin ratio as of January 31 (Round your answers to 2 decimal places.) Current ratio Acidetest ratio Gross margin ratio 3201 2.15 1 55721

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