Use the following selected data from Business Solutions’s income statement for the three months ended March 31, 2022, and from its March 31, 2022, balance sheet to complete the requirements.

Required

1. Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio (round the percent to one decimal).

2. Compute the current ratio and acid-test ratio (round to one decimal).

3. Compute the debt ratio and equity ratio (round the percent to one decimal).

4. What percent of its assets are current? What percent are long term? Round percents to one decimal.

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Computer services revenue...... $25,307 Net income........ $ 18,833 Current liabilities..... $ 875 Net sales (of goods) .... 18,693 Quick assets...... 90,924 Total liabilities 875 Total sales and revenue . 44,000 Current assets . 95,568 Total equity. 119,393 Cost of goods sold .... 14,052 Total assets ..... 120,268