Economic Events Consollidated Statements of Operations

Payments were made on long$-$term debt and borrowings

in the amount of $$3,000.$ This amount consisted of

interest of $$500$ and principle payments of $$2,500.$

Record all of the interest to the income statement as

expense.

Based on the future debt payments schedules, the

amount of the current portion of long$-$term debt requires

an increase in the amount of $$75$ and the current portion

of operating lease liability requires an increase of $$25.$ An

increase in the current portion, decreases the long$-$term

portions.

Questions:

Blank $1-$ The current ratio was $\mathrm{.}992$ before these two

economic events. What is the current ratio after these

events?

Blank $2-$ The gross margin was $29\mathrm{.}3\%$ before these

economic events. What is the gross margin after these

events?

Blank $3-$ The profit margin was $6\mathrm{.}6\%$ before these

economic events. What is the profit margin immediately

after these events?

Blank $4-$ The debt to assets ratio was $76\mathrm{.}2$ before these

economic events. What is the debt to assets ratio after

these economic event?