Manshukh Problem 3-22 (Algo) Overall ratio analysis [LO3-2]The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,420,000, with 75 percent of sales soldon credit.AssetsCashAccounts receivableInventoryPlant and equipmentTotal assetREVOLUTION CLOTHIERSBalance Sheet 20x1a. Current ratiob. Quick ratioc. Debt-to-total-assets ratiod. Asset turnovere. Average collection period$ 27,000291,000308,000393,000$ 1,019,000Accounts payableAccrued taxesLiabilities and EquityBonds payable (long-term)Common stockPaid-in capitalRetained earningsTotal liabilities andtimestimes%6timesdaysuityCompute the following ratios:Note: Use a 360-day year. Do not round Intermediate calculations. Round your answers to 2 decimal places. Input yourdebt-to-total assets answer as a percent rounded to 2 decimal places.$ 293,000125,000201,000100,000150,000150,000$ 1,019,000

Name: Manshukh Problem 3-22 (Algo) Overall ratio analysis [LO3-2]The balance
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Description: Manshukh Problem 3-22 (Algo) Overall ratio analysis [LO3-2]The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,420,000, with 75 percent of sales soldon credit.AssetsCashAccounts receivableInventoryPlant and equipment

Current Ratio = Current Assets / Current Liabilities= (Cash + Account receivables +…

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The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,420,000, with 75 percent of sales sold on credit. Assets Cash Accounts receivable Inventory Plant and equipment Total assets REVOLUTION CLOTHIERS Balance Sheet 28x1 $ 27,000 291,000 308,000 393,000 $ 1,019,000 Liabilities and Equity Accounts payable Accrued taxes Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total liabilities and equity $ 293,000 125,000 201,000 100,000 150,000 150,000 $ 1,019,000

The balance sheet for Revolution Clothiers is shown below. Sales for the year were $3,420,000, with 75 percent of sales sold on credit. Assets Cash Accounts receivable Inventory Plant and equipment Total assets REVOLUTION CLOTHIERS Balance Sheet 28x1 $ 27,000 291,000 308,000 393,000 $ 1,019,000 Liabilities and Equity Accounts payable Accrued taxes Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total liabilities and equity $ 293,000 125,000 201,000 100,000 150,000 150,000 $ 1,019,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...

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