Use the following selected data from Business Solutions's income statement for the three months ended March...

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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 sheet to complete the requirements. $ 29,711 Computer services revenue Net sales (of goods) 19,521 49,232 13,122 18,486 90,060 95,240 119,248 Total sales and revenue Cost of goods sold Net income Quick assets Current assets Total assets Current liabilities 760 Total liabilities 760 Total equity 118,488 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 Reg 3 Reg 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 % < Req 1 Req 2 > Compute the current ratio and acid-test ratio. (Round your answers to 1 decimal place.) Current ratio Acid-test ratio < Req 1 Req 3 > Compute the debt ratio and equity ratio. (Round your percentage answers to 1 decimal place.) Debt ratio % Equity ratio % < Req 2 Req 4 > What percent of its assets are current? What percent are long term? (Round your answers to the nearest whole percentage.) Current assets % Long-term assets % < Req 3 Req 4 > 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. $ 29,711 Computer services revenue Net sales (of goods) 19,521 49,232 13,122 18,486 90,060 95,240 119,248 Total sales and revenue Cost of goods sold Net income Quick assets Current assets Total assets Current liabilities 760 Total liabilities 760 Total equity 118,488 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 Reg 3 Reg 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 % < Req 1 Req 2 > Compute the current ratio and acid-test ratio. (Round your answers to 1 decimal place.) Current ratio Acid-test ratio < Req 1 Req 3 > Compute the debt ratio and equity ratio. (Round your percentage answers to 1 decimal place.) Debt ratio % Equity ratio % < Req 2 Req 4 > What percent of its assets are current? What percent are long term? (Round your answers to the nearest whole percentage.) Current assets % Long-term assets % < Req 3 Req 4 >

Answer rating: 100% (QA)

Answer 1 with service revenue without service revenue Gross margin ratio 733 328 net pr... View the full answer