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The balance sheet for Sunny Corporation is given below. Sales for the year were $3,220,000, with 75 percent of sales sold on credit. Kequired: Compute
The balance sheet for Sunny Corporation is given below. Sales for the year were $3,220,000, with 75 percent of sales sold on credit. Kequired: Compute the following ratios: (Use 365 days in a year. Do not round intermediate calculation. Round the final answers to 2 decimal places.) a. Current ratio b. Debt-to-total-assets ratio c. Asset turnover d. Average collection period
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