Business, 24.04.2020 23:00 kat122402

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: $25,287
Net sales (of goods): $20,376
Total sales and revenue: $45,663
Cost of goods sold: $14,304
Net income: $20,718
Quick assets: $88,684
Current assets: $97,856
Total assets: $123,040
Current liabilities: $1,075
Total liabilities: $1,075
Total equity: $121,965.

Required:
a. Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio.
b. Compute the current ratio and acid-test ratio.
c. Compute the debt ratio and equity ratio.
d. What percent of its assets are current? What percent are long term?

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 04:00, elijahcraft3

Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.

Answers: 2

continue

Business, 22.06.2019 11:30, kimjp56io5

Amano s preguntes cationing to come fonds and consumer good 8. why did the u. s. government use rationing for some foods and consumer goods during world war ii?

Answers: 1

continue

Business, 22.06.2019 20:30, absports

Identify the level of the literature hierarchy for u. s. gaap to which each item belongs

Answers: 1

continue

Business, 22.06.2019 20:40, duhfiywge8885

Consider an economy where the government's budget is initially balanced. the production function, consumption function and investment function can be represented as follows y equals k to the power of alpha l to the power of 1 minus alpha end exponent c equals c subscript 0 plus b left parenthesis y minus t right parenthesis i equals i subscript 0 minus d r suppose that taxes increase. what happens to the equilibrium level of output?

Answers: 1

continue

You know the right answer?

Use the following selected data from Business Solutions’s income statement for the three months ende...