Compute the gross margin ratio both with and without

Reference no: EM13580999

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, $28,885;

net sales (of goods), $21,270;

total sales and revenue, $50,155;

cost of goods sold, $12,498;

net income, $18,183;

quick assets, $91,268;

current assets, $95,808;

total assets, $120,272;

current liabilities, $755;

total liabilities, $755;

and total equity, $119,517.

1. Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. (Round your answers to 1 decimal place.)

2. Compute the current ratio and acid-test ratio. (Round your answers to 1 decimal place.)

3. Compute the debt ratio and equity ratio. (Round your answers to 1 decimal place.)

4. What percent of its assets are current? What percent are long term? (Round your answers to the nearest whole percentage.)

Reference no: EM13580999

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