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he balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,200,000, with 75 percent of sales sold on redit. Assets Cash Accounts receivable Inventory Plant and equipment Total assets REVOLUTION CLOTHIERS Balance Sheet 20X1 a. Current ratio D. Quick ratio c. Debt-to-total-assets ratio d. Asset turnover e. Average collection period $ 25,000 351,000 251,000 423,000 $ 1,050,000 Accounts payable Accrued taxes Liabilities and Equity Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total liabilities and equity Compute the following ratios: lote: Use a 360-day year. Do not round intermediate calculations. Round your answers to 2 decimal places. Input your debt-to- otal assets answer as a percent rounded to 2 decimal places. times times % times days $ 247,000 97,000 136,000 100,000 150,000 320,000 $ 1,050,000

he balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,200,000, with 75 percent of sales sold on redit. Assets Cash Accounts receivable Inventory Plant and equipment Total assets REVOLUTION CLOTHIERS Balance Sheet 20X1 a. Current ratio D. Quick ratio c. Debt-to-total-assets ratio d. Asset turnover e. Average collection period $ 25,000 351,000 251,000 423,000 $ 1,050,000 Accounts payable Accrued taxes Liabilities and Equity Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total liabilities and equity Compute the following ratios: lote: Use a 360-day year. Do not round intermediate calculations. Round your answers to 2 decimal places. Input your debt-to- otal assets answer as a percent rounded to 2 decimal places. times times % times days $ 247,000 97,000 136,000 100,000 150,000 320,000 $ 1,050,000

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,200,000, with 75 percent of sales sold on credit. Assets Cash Accounts receivable Inventory Plant and equipment Total assets REVOLUTION CLOTHIERS Balance Sheet 20X1 a. Current ratio b. Quick ratio c. Debt-to-total-assets ratio d. Asset turnover e. Average collection period $ 25,000 351,000 251,000 423,000 $ 1,050,000 Accounts payable Accrued taxes Liabilities and Equity times times % times days Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total liabilities and equity $ 247,000 97,000 136,000 Compute the following ratios: Note: 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. 100,000 150,000 320,000 $ 1,050,000
Transcribed Image Text:The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,200,000, with 75 percent of sales sold on credit. Assets Cash Accounts receivable Inventory Plant and equipment Total assets REVOLUTION CLOTHIERS Balance Sheet 20X1 a. Current ratio b. Quick ratio c. Debt-to-total-assets ratio d. Asset turnover e. Average collection period $ 25,000 351,000 251,000 423,000 $ 1,050,000 Accounts payable Accrued taxes Liabilities and Equity times times % times days Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total liabilities and equity $ 247,000 97,000 136,000 Compute the following ratios: Note: 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. 100,000 150,000 320,000 $ 1,050,000
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