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The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,530,000, with 75 percent of sales sold on credit. $ Assets
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,530,000, with 75 percent of sales sold on credit. $ Assets Cash Accounts receivable Inventory Plant and equipment STUD CLOTHIERS Balance Sheet 20x1 Liabilities and Equity 47,000 Accounts payable 306,000 Accrued taxes 204,000 Bonds payable (long-term) 404,000 Common stock Paid-in capital Retained earnings 961,000 Total liabilities and equity 250,000 108,000 147,000 100,000 150,000 206,000 961,000 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.) times times a. Current ratio Quick ratio Debt-to-total-assets ratio d Asset turnover e. Average collection period times days
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