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The balance sheet for K company is given below. Sales for the year were $3,070,000, with...

The balance sheet for K company is given below. Sales for the year were $3,070,000, with 75 percent of sales sold on credit. total assets equal their total liabilities at $1110000. Accounts include:

Cash $50,000

Inv 365,000

Plant and Eqip 425,000

Accounts rec. 270,000

Acct payable 235,000

Long term - bonds payable 180,000

Common stock 310,000

Accrued taxes 45,000

Retained earnings 340,000

Calculate: Current ratio, Asset turnover, Debt to total assets ratio, Quick ratio, Average collection period

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