Calculations Success Systems’ income statement

Calculations Success Systems’ income statement

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, I60; net sales [of goods), $18,693; total sales and revenue, $43,853: cost
of goods sold, $l-‘-1.052; net income, $18,636; quick assets, $100,205; current assets, $105,209; total
assets, $l29,909; current liabilities, $875; total liabilities, $875-‘, and total equity, $129,034.
Required
1. Compute the gross margin ratio (“both with and without services revenue} and net profit margin ratio
{round the percent to one decimal”).
2. Compute the current ratio and acid-test ratio [round to one decimal
3. Compute the debt ratio and equity ratio [round the percent to one decimal}.
4. What percent of its assets are current? What percent are long term {round the percent to one decirnail?

The selling 1J1’iCt‘:S are SL250 per desk trait and $500 per t:htti1′. The vttriahle costs are $750 per

desk unit shd $250 p-e1’eimii’. Fixed costs are $120,000.

Required

1. Compute the selling ptiee per composite unit.

2. Compute the varitthle costs per composite unit.

3. Compute the h1’ea}-t-even point in composite units. Check [33 60 cornposite units
4. Compute the number of units of each p1’oduu.:t that would he sold at the brettit-even point.

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