Question: Use the following selected data from Success Systems' income statement for the three months ended March 31, 2014, and from its March 31, 2014, balance
Use the following selected data from Success Systems' income statement for the three months ended March 31, 2014, and from its March 31, 2014, balance sheet to complete the requirements below: computer services revenue, $25,182; net sales (of goods), $20,211; total sales and revenue, $45,393; cost of goods sold, $13,960; net income, $18,936; quick assets, $89,892; current assets, $96,048; total assets, $123,560; current liabilities, $965; total liabilities, $965; and total equity, $122,595.
Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio.
| |||||||||||
| Net profit margin ratio | % |
Compute the current ratio and acid-test ratio.
| Current ratio | |
| Acid-test ratio |
Compute the debt ratio and equity ratio.
| Debt ratio | % | |
| Equity ratio | % | |
What percent of its assets are current? What percent are long term?
| Current assets | % | |
| Long-term assets | % | |
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