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Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2021, and from its March 31, 2021,
Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2021, and from its March 31, 2021, balance sheet to complete the requirements. Computer services revenue Net sales (of goods) Total sales and revenue Cost of goods sold Net income Quick assets Current assets Total assets Current liabilities Total liabilities Total equity Required: $ 29,053 20,595 49,648 14,606 19,173 89,860 95,896 120,904 940 940 119,964 1. Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. 2. Compute the current ratio and acid-test ratio. 3. Compute the debt ratio and equity ratio. 4. What percent of its assets are current? What percent are long term? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Req 4 Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. Note: Round your percentage answers to 1 decimal place. Gross margin ratio Net profit margin ratio With Service Revenue % do do % Without Service Revenue % Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Req 4 Compute the current ratio and acid-test ratio. Note: Round your answers to 1 decimal place. Current ratio Acid-test ratio < Req 1 Req 3 > Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Req 4 Compute the debt ratio and equity ratio. Note: Round your percentage answers to 1 decimal place. Debt ratio Equity ratio % % Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Req 4 What percent of its assets are current? What percent are long term? Note: Round your answers to the nearest whole percentage. Current assets Long-term assets % %
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