Use the following selected data from Business Solutions's 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

Net sales (of goods)

Total sales and revenue

Cost of goods sold

Net income

Quick assets

Current assets

Toral assets

Current liabilities

Total liabilities

Total equity

$ 26,113

21,870

47,983

14,312

20,415

90,664

95,520

122,640

745

745

121,895

Required:

M. Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio.

1. Compute the current ratio and acid-test ratio.
2. Compute the debt ratio and equity ratio.
3. What percent of its assets are current? What percent are long term?

Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2020, and from March 31,2020 , balance sheet to complete the requirements. 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. Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. (Round your percentage answers to 1 decimal place.) Complete this question by entering your answers in the tabs below. Compute the current ratio and acid-test ratio. (Round your answers to 1 decimal place.) Complete this question by entering your answers in the tabs below. Compute the debt ratio and equity ratio. (Round your percentage answers to 1 decimal place.) Complete this question by entering your answers in the tabs below. What percent of its assets are current? What percent are long term? (Round your answers to the nearest whole percentage.)