The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,310,000, with 75 p… 1 answer below »

The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,310,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity Cash $ 21,000 Accounts payable $ 282,000 Accounts receivable 347,000 Accrued taxes 131,000 Inventory 318,000 Bonds payable (long-term) 186,000 Plant and equipment 417,000 Common stock 100,000 Paid-in capital 150,000 Retained earnings 254,000 Total assets $ 1,103,000 Total liabilities and equity $ 1,103,000 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.)

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