Serial Problem Business Solutions LO P3 Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2018, and from its March 31, 2018, balance sheet to complete the requirements below: computer services revenue, $25,307; net sales (of goods), $18,693; total sales and revenue, $44,000; cost of goods sold, $14,052; net income, $18,833; quick assets, $90,924; current assets, $95,568; total assets, $120,268; current liabilities, $875; total liabilities, $875; and total equity, $119,393. 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? Reg 1 Reg 2 Reg 3 Reg 4 Compute the gross margin ratio (both with and without services revenue) answers to 1 decimal place.) With Service Revenue Without Service Revenue Gross margin ratio Net profit margin ratio Req 1 Reg 2 Req3 Reg 3 Compute the current ratio and acid-test rat Current ratio Acid-test ratio Req 1 Reg 2 Req3 Compute the debt ratio and equity ratio. (R Debt ratio Equity ratio Req 1 Reg 2 Req3 Req 4 What percent of its assets are current? What percent are ! Current assets Long-term assets