Problem: The Balance sheet for Sam Corporation is shown below. Sales for the year were $3,040,000, with 75% of sales sold on credit.
![2260_Balance Sheet.jpg](https://secure.tutorsglobe.com/CMSImages/2260_Balance%20Sheet.jpg)
Compute the following ratios
a. Current ratio
b. Quick ratio
c. Debt to total assets ratio
d. Asset turnover
e. Average collection period.