15)

The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,040,000, with 75 percent of sales sold on credit.

STUD CLOTHIERS Balance Sheet 20XX
Assets	Liabilities and Equity
Cash	$	50,000	Accounts payable	$	220,000
Accounts receivable		280,000	Accrued taxes		80,000
Inventory		240,000	Bonds payable (long-term)		118,000
Plant and equipment		380,000	Common stock		100,000
			Paid-in capital		150,000
			Retained earnings		282,000
Total assets	$	950,000	Total liabilities and equity	$	950,000

Compute the following ratios:(Use a 360-day year. Do not round intermediate calculations. Round your answers to 2 decimal places. Input your debt-to-total assets answer as a percent rounded to 2 decimal places.)

a.	Current ratio	times
b.	Quick ratio	times
c.	Debt-to-total-assets ratio	%
d.	Asset turnover	times
e.	Average collection period	days