Problem 3-22 Overall ratio analysis [LO3-2]

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			Liabilities and Equity
Cash	$	84,000	Accounts payable	$	227,000
Accounts receivable		378,000	Accrued taxes		83,000
Inventory		245,000	Bonds payable (long-term)		217,000
Plant and equipment		433,000	Common stock		100,000
			Paid-in capital		150,000
			Retained earnings		363,000
Total assets	$	1,140,000	Total liabilities and equity	$	1,140,000

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: _____ %

d. asset turnover: _____ times

e. average collection period: _____ days