Question
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 $ 28,255 19,401 47,656 14,536 20,601 91,112 Current assets 95,296 Total assets 120,208 Current liabilities. 1,188 Total liabilities Total equity 1,180 119,028 Required: 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.
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