1. Calculate gross profit as a percentage of sales if gross profit was £110,000 and sales were £640,000.
2. Calculate net profit as a percentage ofsales if net profit was £80,000 and sales were £560,000.
3. (a) Calculate the current ratio if current assets are £60,000 and current liabilities are £50,000.
(b) If inventory is £32,000, what is the acid test ratio?