A firm has a debt to asset ratio of 75%, $213,000 in debt, and net income of $40,470. Calculate return on equity. (Do not round intermediate calculations.)

75%

57%

77%

73%

ABC Co. has an average collection period of 40 days. Total credit sales for the year were $5,000,000. What is the balance in accounts receivable at year-end? (Use 360 days in a year. Do not round intermediate calculations. Round your answer to the nearest dollar amount.)

$565,556

$2,000,000

$5,000,000

$555,556

XYZ's receivables turnover is 25x. The accounts receivable at year-end are $580,000. The average collection period is 90 days. What was the sales figure for the year assuming all sales are on credit?

$580,000

$14,500,000

$123,200

$23,200

A firm's long term assets = $70,000, total assets = $360,000, inventory = $18,000 and current liabilities = $30,000. (Round your answers to 1 decimal place.)

current ratio = 9.7; quick ratio = 9.1

current ratio = 14.7; quick ratio = 14.1

current ratio = 12.2; quick ratio = 11.6

current ratio = 19.7; quick ratio = 19.1

A firm has total assets of $2,050,000. It has $903,000 in long-term debt. The stockholders equity is $703,000. What is the debt to total asset ratio? (Round your answer to the nearest whole percent.)

76%

81%

66%

None of the items