The balance sheet for Stud Clothiers is shown below. Sales for the year were $2,400,000, with 90 percent of
	sales sold on credit.
	STUD CLOTHIERS
	Balance Sheet 20XX
	Assets			Liabilities and Equity
	Cash		$60,000	Accounts payable		$220,000
	Accounts receivable		240,000	Accrued taxes		30,000
	Inventory		350,000	Bonds payable (long term)		150,000
	Plant and equipment		410,000	Common stock		80,000
				Paid-in-capital		200,000
				Retained earnings		380,000
	Total assets		$1,060,000	Total liabilities and equity		$1,060,000
	Compute the following ratios:
	a. Current ratio.
	b. Quick ratio.
	c. Debt-to-total-assets ratio.
	d. Asset turnover.
	e. Average collection period.