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The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with 75 percent of sales sold on credit. STUD CLOTHIERS

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The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity Cash Accounts receivable Inventory Plant and equipment $74,000 Accounts payable % 305,000 153,000 147,000 100,000 150,000 229,000 1,084,000 287,000 310,000 413,000 Accrued taxes Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total assets $ 1,084,000 Total liabilities and equity 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 e. Average collection period times times times days

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