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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, balance
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 $ 27,562 18,621 46,183 14,978 18,993 88,736 97,968 121,072 1,085 1,085 119,987 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
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