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Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2022, and from its March 31, 2022,
Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2022, and from its March 31, 2022, 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 Required: $ 27,114 21,534 48,648 14,452 20,772 91,992 97,264 121,064 1,180 1,180 119,884 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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