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The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,760,000, with 75 percent of sales sold on credit Assets Cash
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,760,000, with 75 percent of sales sold on credit Assets Cash Accounts receivable Inventory Plant and equipment STUD CLOTHIERS Balance Sheet 2exi Liabilities and Equity $ 58, eee Accounts payable 356,000 Accrued taxes 301, eee Bonds payable (long-term) 454, eee Common stock Paid-in capital Retained earnings $ 1,169,000 Total liabilities and equity $ 254 , 163 , 147, mee 199,000 15e,eee 355, eee $ 1,169, eee 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.) a. Current ratio times times 96 b. Quick ratio c. Debt-to-total-assets ratio d Asset turnover e. Average collection period times days
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