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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
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. Please note that there are two revenue accounts: Computer services revenue and Net sales of goods. The gross margin ratio question asks you to calculate two gross margin ratios, one using total sales and revenue, the other using net sales of goods only. You are required to calculate only one net profit margin ratio. 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 $ 29,382 21,321 50,703 15,786 20,172 90,524 95,160 123,240 705 705 122,535 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. Reg 1 Reg 2 Req3 Req 4 Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. (Round your percentage answers to 1 decimal place.) With Service Revenue Without Service Revenue % % Gross margin ratio Net profit margin ratio %
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