SP 13 Serial Problem Business Solutions (Algo) LO P3 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 incone Quick assets Current assets. Total assets Current liabilities Total liabilities. Total equity $ 26,309 21,372 47,681 13,476 18,582 91,156 95,144 122,720 755 755 121,965 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.

SP 13 Serial Problem Business Solutions (Algo) LO P3 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 incone Quick assets Current assets. Total assets Current liabilities Total liabilities. Total equity $ 26,309 21,372 47,681 13,476 18,582 91,156 95,144 122,720 755 755 121,965 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.

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Description: Please do not give solution in image format thanku Book0erencesComputer services revenueNet sales (of goods).Total sales and revenueCost of goods sold iNet incomeQuick assetsCurrent assetsTotal assetsCurrent liabilitiesTotal liabilities.Total equity$

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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