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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. Computer services revenue Net sales (of goods) Total sales and revenue Cost of goods sold Net income Quick assets $ 27,716 18,021 45,737 12,130 18,738 88,472 96,256 118,144 1,025 1,025 117,119 Current assets Total assets Current liabilities Total liabilities Total equity 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 perce answers to 1 decimal place.) With Service Revenue Without Service Revenue % % Gross margin ratio Net profit margin ratio % 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. Req 1 Req 2 Req3 Req 4 Compute the current ratio and acid-test ratio. (Round your answers to 1 decimal place.) Current ratio Acid-test ratio 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 Reg 4 Compute the debt ratio and equity ratio. (Round your percentage answers to 1 decimal place.) % Debt ratio Equity ratio % 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. Req 1 Req 2 Req3 Reg 4 What percent of its assets are current? What percent are long term? (Round your answers to the nearest whole percenta % Current assets Long-term assets %
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