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The balance sheet for Revolution Clothiers is shown below. Sales for the year were $ 3 , 5 0 0 , 0 0 0 ,

The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,500,000, with 75 percent of sales sold on credit.
REVOLUTION CLOTHIERS
Balance Sheet 20X1
Assets Liabilities and Equity
Cash $ 84,000 Accounts payable $ 227,000
Accounts receivable 378,000 Accrued taxes 83,000
Inventory 245,000 Bonds payable (long-term)217,000
Plant and equipment 433,000 Common stock 100,000
Paid-in capital 150,000
Retained earnings 363,000
Total assets $ 1,140,000 Total liabilities and equity $ 1,140,000
Compute the following ratios:

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