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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 $ 43,000 318,000 284,000 525,000 $ 1,170,000 Accounts payable Accrued taxes Liabilities and Equity Bonds payable (long-term) Common stock Paid-in capital Retained earnings Total liabilities and equity times times % times days $243,000 175,000 194,000 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. 100,000 150,000 308,000 $ 1,170,000

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 51E: 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 $3,520,000, 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
$ 43,000
318,000
284,000
525,000
$ 1,170,000
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
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.
$ 243,000
175,000
194,000
100,000
150,000
308,000
$ 1,170,000

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