question Through radio and television, the defendant’s stores advertised a “top quality . . . Queen Anne Console Magic Stitcher” sewing machine, along with a sewing chair, for the “close-out price of just $29.50.” Under the sales plan, a “lead person” would accept the customer’s order, taking a deposit as small as 25 cents. After that, a demonstrator would visit the customer and “kill the sale” by having the machine jam in use. The demonstrator would also say that the customer could lose an eye if the machine jammed. Then the demonstrator would attempt to “step-up” the sale and persuade the customer to buy a higher-priced machine. In about 19 months, only 26 of the advertised machines were sold, although 10,951 customers entered into conditional sales contracts for such machines. The 26 advertised machines were sold at a time when the defendants had received complaints from a television station and the Better Business Bureau. The defendants were prosecuted for conspiring to sell merchandise by means of deceptive and misleading advertising. The prosecutor gave evidence that the defendants never intended to sell the advertised machines, which actually cost them$45 each. Are the defendants guilty as charged? (People v. Glubo, Exelbert, Epstein, and Atlantic Sewing Stores, Inc., 158 N.E.2d 699) finance Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2016, and from its March 31, 2016, balance sheet to complete the requirements below: computer services revenue, $\$ 25,307$; net sales (of gopds), $\$ 18,693$; 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, $\$ 119,393$.
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 decimal)? 15th Edition•ISBN: 9780073401805 (8 more)Douglas A. Lind, Samuel A. Wathen, William G. Marchal 1st Edition•ISBN: 9781118414705David Besanko, Mark Shanley, Scott Schaefer 13th Edition•ISBN: 9781337359917David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams 11th Edition•ISBN: 9781337623124Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman