What percent of its assets are current? What percent are long term?

Problem

Use the following selected data from Business Solutions` income statement for the three months ended March 31, 2012, and from its March 31, 2012, balance sheet to complete the requirements before computer services revenue, $25,307; net sales (of goods), $18,693; total sales and revenue, $44,000; cost of goods sold, $14,052; net income, $18,833; quick assets, $90,924; current assets, $95,568; total assets, $120,268; current liabilities, $875; total liabilities, $875, and total equity, $119,393.

Questions:

1. Compute the gross margin ratio (both with and without services revenues) and net profit margin ratio.

2. Compare 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?