Question
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,510,000, with 75 percent of sales sold on credit. STUD CLOTHIERS
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,510,000, with 75 percent of sales sold on credit.
| STUD CLOTHIERS Balance Sheet 20X1 | |||||
| Assets | Liabilities and Equity | ||||
| Cash | $ | 39,000 | Accounts payable | $ | 297,000 |
| Accounts receivable | 304,000 | Accrued taxes | 128,000 | ||
| Inventory | 294,000 | Bonds payable (long-term) | 122,000 | ||
| Plant and equipment | 488,000 | Common stock | 100,000 | ||
| Paid-in capital | 150,000 | ||||
| Retained earnings | 328,000 | ||||
| Total assets | $ | 1,125,000 | Total liabilities and equity | $ | 1,125,000 |
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.)
Current ratio:
Quick ratio:
Debt to total assets ratio:
asset turnover:
average collection period :
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The Financialized Economy
Authors: Alexander Styhre
1st Edition
0367754568, 978-0367754563
