Calculating ratios.The following selected accounts were taken from the financial records o...

Calculating ratios.

The following selected accounts were taken from the financial records of Santa Rosa Distributors at December 31, 2016. All accounts have normal balances.

Merchandise inventory at December 31, 2015 was $58,500. 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