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Carla Vista Ltd. is a small restaurant and culinary business started four years ago by Sharon Lee. Initially the company's operations consisted of a small
Carla Vista Ltd. is a small restaurant and culinary business started four years ago by Sharon Lee. Initially the company's operations consisted of a small diner. In 2023 , the company added online culinary lessons to expand sales. The online culinary events are sold to corporations that provide the lessons as performance incentives to their employees. As the culinary lessons side of the business grew in 2024 , the company purchased a used vehicle to deliver meal kits to be used for the lessons. All sales in the diner are cash, debit, or credit card, but culinary lessons, which are sold to corporations, are invoiced after the event with payment due in 30 days. Most of the company's suppliers offer terms of 15 days. Selected financial information for Carla Vista Ltd. follows. (a1) Your answer is correct. Assume the growth in sales in 2024 is primarily from the online lessons. Calculate the gross margins and the profit margins. (Round answers to 1 decimal place, e.g. 15.1\%.) eTextbook and Media Solution Attempts: (b1) Your answer is incorrect. Calculate the company's current ratio and quick ratio for both years. (Round answers to 2 decimal places, e.g. 1.84.) eTextbook and Media Last saved 2 days ago. Attempts: 1 of 3 used Saved work will be auto-submitted on the due date. Autosubmission can take up to 10 minutes. (c1) The parts of this question must be completed in order. This part will be available when you complete the part above. (d1) The parts of this question must be completed in order. This part will be available when you complete the part above. (e) The parts of this question must be completed in order. This part will be available when you complete the part above
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