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 sheet to complete the requirements below:
Computer services revenue, $25,160; net sales (of goods), $ 18,693; total sales and revenue, $43,853; cost of goods sold, $14,052; net income, $18,686; quick assets, $100,205; current assets, $105,209; total assets, $ 129,909; current liabilities, $875; total liabilities^ $875; and total equity, $ 129,034.
Compute the gross mm gin ratio (both with and without services revenue) and net profit margin ratio (round the percent to one decimal).
Compute the current ratio and acid-test ratio (round to one decimal);
Compute the debt ratio and equity ratio (round the percent to one decimal).
What percent of its assets are current? What percent are long term (round the percent to one decimal)?