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

compute Current ratio , quick ratio, debt to total assets ratio, asset turnover, and average collection period?

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STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity Cash 74,000 Accounts payable 305,000 Accounts receivable 287,000 Accrued taxes 153,000 Inventory Plant and equipment 310,000 413,000 Bonds payable (long-term) 147,000 Common stock 100,000 Paid-in capital Retained earnings 150,000 229,000 $ 1,084,000 Total assets Total liabilities and equity $ 1,084,000 STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity Cash 74,000 Accounts payable 305,000 Accounts receivable 287,000 Accrued taxes 153,000 Inventory Plant and equipment 310,000 413,000 Bonds payable (long-term) 147,000 Common stock 100,000 Paid-in capital Retained earnings 150,000 229,000 $ 1,084,000 Total assets Total liabilities and equity $ 1,084,000

Answer rating: 100% (QA)

Stud Clothiers Financial Analysis 20X1 Based on the provided information we can calculate the following financial ratios for Stud Clothiers 1 Current ... View the full answer