The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with...

 

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The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with 75 percent of sales sold on credit. Assets Cash Accounts receivable Inventory Plant and equipment Total assets a. Current ratio b. c. d Asset turnover e. Average collection period $ Quick ratio Debt-to-total-assets ratio STUD CLOTHIERS Balance Sheet 20X1 $ 1,084,000 Liabilities and Equity 74,000 287,000 310,000 Bonds payable (long-term) 413,000 Common stock Accounts payable Accrued taxes Paid-in capital Retained earnings 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.) times times % times days $ 305,000 153,000 147,000 100,000 150,000 229,000 $ 1,084,000 The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,990,000, with 75 percent of sales sold on credit. Assets Cash Accounts receivable Inventory Plant and equipment Total assets a. Current ratio b. c. d Asset turnover e. Average collection period $ Quick ratio Debt-to-total-assets ratio STUD CLOTHIERS Balance Sheet 20X1 $ 1,084,000 Liabilities and Equity 74,000 287,000 310,000 Bonds payable (long-term) 413,000 Common stock Accounts payable Accrued taxes Paid-in capital Retained earnings 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.) times times % times days $ 305,000 153,000 147,000 100,000 150,000 229,000 $ 1,084,000

Answer rating: 100% (QA)

A Current Assets Cash Accounts receivable Inventory 74000 287000 310000 6710... View the full answer