Belhaven University Gross Margin Ratio Question
Description
- Prompt: Use the following selected data from Business Solutions income statement for the three months ended March 31, 2020, and from its March 31, 2020 balance sheet to complete the requirements.
SEE SYLLABUS FOR DATA
- Compute the gross margin 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 percent to one decimal.
- References: Financial & Managerial Accounting text Chapter 13: Analysis of Financial Statements Chapter 14: Managerial Accounting Concepts and Principles Proverbs 15:32-33, Titus 2:1-15
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