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 income Quick assets Current assets Total assets Current liabilities. Total liabilities. Total equity $ 27,275 19,083 46,358 12,572 18,807 89,252 97,520 123,464 885 885 122,579 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?

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 income Quick assets Current assets Total assets Current liabilities. Total liabilities. Total equity $ 27,275 19,083 46,358 12,572 18,807 89,252 97,520 123,464 885 885 122,579 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?

Name: Use the following selected data from Business Solutions's income stat
Uploaded: 2024-03-05T11:47:04.000Z
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Description: Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2022, and from itsMarch 31, 2022, balance sheet to complete the requirements.Computer services revenueNet sales (of goods)Total sales and

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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