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Check my work The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with 75 percent of sales sold on
Check my work The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with 75 percent of sales sold on credit Assets Cash Accounts receivable Inventory Plant and equipment STUD CLOTHIERS Balance Sheet 2ex1 Liabilities and Equity $ 74,000 Accounts payable $ 305,000 287,000 Accrued taxes 153,000 310,000 Bonds payable (long-term) 147,000 413,000 Common stock 100,000 Paid-in capital 150,000 Retained earnings 229.000 $ 1,884,000 Total liabilities and equity $1,084,000 Total assets 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.) imes Itimes a. Current ratio b. Quick ratio Debt to-total-assets ratio d Asset urnover e. Average collection period times days
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