Use the following selected data from Business Solutionss income statement for the three months ended March 31, 2020, and from its March 31, 2020, balance sheet to complete the requirements.

Computer services revenue $ 25,539 Net sales (of goods) 18,957 Total sales and revenue 44,496 Cost of goods sold 12,438 Net income 20,889 Quick assets 91,456 Current assets 97,736 Total assets 119,456 Current liabilities 980 Total liabilities 980 Total equity 118,476

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?