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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,
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. 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: $ 25,483 18,546 44,029 12,912 18,762 88,040 95,992 119,072 985 985 118,087 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?
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