The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,500,000, with...
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The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,500,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Cashi Accounts receivable Inventory Plant and equipment Total assets $ a. Current ratio b. Quick ratio c. Debt-to-total-assets ratio d Asset turnover e. Average collection period 84,000 378,000 245,000 433,000 $1,140,000 Accounts payable Accrued taxes Bonds payable (long-term) Common stock Liabilities and Equity Paid-in capital Retained earnings 2.28 times times % times days 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.) 227,000 83,000 217,000 100,000 150,000 363,000 $ 1,140,000 The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,500,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Cashi Accounts receivable Inventory Plant and equipment Total assets $ a. Current ratio b. Quick ratio c. Debt-to-total-assets ratio d Asset turnover e. Average collection period 84,000 378,000 245,000 433,000 $1,140,000 Accounts payable Accrued taxes Bonds payable (long-term) Common stock Liabilities and Equity Paid-in capital Retained earnings 2.28 times times % times days 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.) 227,000 83,000 217,000 100,000 150,000 363,000 $ 1,140,000
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b Quick Ratio Quick assets Current liabilities 46200... View the full answer
Related Book For
Foundations of Financial Management
ISBN: 978-1259194078
15th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
Posted Date:
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