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The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,880,000, with 75 percent of sales sold on credit. Assets Cash
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,880,000, with 75 percent of sales sold on credit. Assets Cash Accounts receivable Inventory Plant and equipment STUD CLOTHIERS Balance Sheet 2ex1 Liabilities and Equity 60,000 Accounts payable 311, eee Accrued taxes 276,00 Bonds payable (long-term) 389, eee Common stock Paid-in capital Retained earnings $ 1,036,000 Total liabilities and equity $ 279, eee 91, eee 132, eee 100,000 150, eee 284, eee $ 1,036, 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 b. Quick ratio times % c. Debt-to-total-assets ratio ed Asset turnover e. Average collection period times days
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