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Parap The balance sheet for Stud Clothiers is shown next. Sales for the year were $3.470,000, with 75 percent of sales sold on credit STUD
Parap The balance sheet for Stud Clothiers is shown next. Sales for the year were $3.470,000, with 75 percent of sales sold on credit STUD CLOTHIERS Balance Sheet 28X1 Assets Cash Liabilities and Equity Accounts receivable 97,000 Accounts payable 360,000 Accrued taxes $ 279,000 166,000 Inventory 315,000 Bonds payable (long- term) 153,000 Plant and equipment 413,000 Common stock 100,000 Paid-in capital 150,000 Retained earnings 337,000 Total assets $1,185,000 Total liabilities and equity $1,185,000 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 b. Quick ratio c. Debt-to-total-assets ratio d Asset turnover 1.73 times 3.75 times 50.46% 2.93 times Average collection e. period 37.35 days 4f4
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